HungryPanda Raises $55 Million led by Mars Growth Capital, to Accelerate Expansion and Service Enhancements

NEW YORK, Sept. 30, 2024 /PRNewswire/ -- HungryPanda, the world's leading overseas Asian food delivery platform, today announced the successful completion of a $55 million refinancing and fundraise. The round was led by Mars Growth Capital, a JV between Liquidity Group and MUFG,with continued support from HungryPanda's existing investors, including Perwyn, Kinnevik, 83North, and Felix. This new funding will enable HungryPanda to solidify its leadership in the Asian food delivery market and explore new opportunities to serve a broader range of minority ethnic communities, particularly in North America.

Founded in 2017, HungryPanda has established itself as a global leader in Asian food delivery, operating in over 80 cities across 10 countries, serving more than 6.5 million users in partnership with over 100,000 merchants. In 2021, the company raised $130 million in Series D to expand into new markets and explore mergers and acquisitions. To date, HungryPanda has raised over $275 million in funding and has entered a new phase of business growth. In 2024, HungryPanda achieved profitability while maintaining an annual growth rate of over 30%—a remarkable achievement in the competitive food delivery industry.

"Reaching profitability while maintaining significant growth demonstrates the strength of our business model and our long-term vision. This success is a testament to the dedication and hard work of our entire team," said Eric Liu, Founder and CEO of HungryPanda. "HungryPanda is more than just a delivery platform—we see ourselves as an ambassador of Asian cuisine. With this new funding, we are poised to accelerate our expansion into North America, elevate our services, and continue to champion the richness of Asian food culture on a global scale. We are especially grateful for the support from Mars Growth Capital and Liquidity Group, whose partnership will help us achieve our ambitious goals."

"I am proud of how HungryPanda has positioned itself uniquely within the food delivery sector by focusing on the specific needs of Asian communities globally," said David Buttress, Chairman of the Board at HungryPanda. "Our targeted approach and deep understanding of this market have been key drivers of our growth and success. "As we continue to scale, I am confident we will further solidify our leadership in this space and capitalize on new opportunities." 

The new funding will enable HungryPanda to continue meeting the growing demand for Asian food and groceries, while upholding the high service standards its customers expect. In addition, HungryPanda remains committed to supporting its delivery riders by setting industry-leading standards for safety and offering sustainable gig work opportunities.

"HungryPanda has been able to carve out an impressive niche in the highly-competitive food delivery vertical, and as a result, has experienced double-digit growth while continuing to strengthen its position as a market leader," said Paul Brodie, Managing Director, Europe at Mars Growth Capital and Liquidity Group. "We are excited to be part of HungryPanda's next chapter along with its existing investors."

About HungryPanda
Founded in 2017, HungryPanda is currently the largest overseas Asian food delivery platform and the only food delivery platform to rank in Deloitte's 2021 UK Technology Fast 50. Starting in Nottingham, U.K., HungryPanda has expanded to more than 80 cities in 10 countries: the U.K., France, Italy, the U.S., Canada, Australia, New Zealand, Japan, South Korea and Singapore. Currently, HungryPanda works with over 80,000 riders, 100,000 merchants and serves over 6 million users worldwide. This year, HungryPanda sets sights on $1 billion in gross transaction volume. For more information visit www.hungrypanda.co.

About MARS Growth Capital
MARS Growth Capital, a joint venture between MUFG and Liquidity Group, provides advanced financing solutions to fintech, SaaS, and e-commerce businesses in Southeast Asia, the Pacific, and Europe. Utilizing Liquidity Group's AI and machine learning, MARS offers credit and equity financing ranging from $3 million to $100 million for mid-market, late-stage, and pre-IPO technology companies. For more information, visit https://www.marsgrowth.com/

About Liquidity Group 
Liquidity Group is the leading AI-driven financial asset management firm in the world. With multi-billions across funds focused on North America, Asia-Pacific, Europe, and the Middle East, Liquidity Group operates globally with offices in Abu Dhabi, New York, London, Tel Aviv and Singapore. The firm's patented decision science technology enables it to deploy more capital through more deals much faster than other firms in the capital markets industry, establishing it as the fastest-growing provider of credit and equity financing to mid-market and late-stage companies. Liquidity Group is backed by leading global financial institutions including Japan's largest bank, MUFG, Spark Capital, Apollo Asset Management and others.

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

HungryPanda Raises $55 Million led by Mars Growth Capital, to Accelerate Expansion and Service Enhancements

MELBOURNE, Australia, Sept. 30, 2024 /PRNewswire/ -- Creality, a leader in 3D printing technology, recently wrapped up its ShareFest Australia 2024, a series of highly anticipated user events across the nation. Following the success of last year's event in Melbourne, this year's ShareFest ventured into the Gold Coast, Perth, and returned to Melbourne, offering a unique platform for the Australian 3D printing community to connect and celebrate technological advancements.

The ShareFest series spanned from September 14 to 28, starting in Queensland and moving to Western Australia before concluding in Victoria. These events allowed users to interact directly with Creality's team and explore the latest in 3D printing technology.

A key moment occurred at the Gold Coast event, where Creality's CEO, Adam Ao, personally engaged with attendees to gather feedback, highlighting Creality's commitment to understanding the needs of its Australian customers and reinforcing user-centric innovation.

Participants were introduced to new products, including the multi-colored K2 Plus Combo, showcasing Creality's focus on enhancing creative possibilities. The ShareFest also recognized significant contributors to the 3D printing community. Sean Riley, Creality Australia Group Admin, was honored at the Gold Coast event. In Perth, Gary Brennand, a 3D printing expert, received accolades for his contributions, while Rick Champion, a notable YouTube influencer, was celebrated in Melbourne.

The Perth event, hosted by Gary in a welcoming atmosphere, featured hands-on experiences with his machines, fostering community engagement among influencers and experienced users. In Melbourne, the event, organized with local distributor 3D Printer Superstore, featured an activity where attendees assembled a large logo from printed models, followed by a lively after-party with DJ entertainment and a BBQ, promoting networking in a relaxed setting.

Interactive games and competitions added excitement to the ShareFest, with participants grouped into five teams based on Creality's core values. Winners received exclusive merchandise, while a model competition showcased creative prints from attendees, emphasizing the community's talent.

The series also included a lineup of guest speakers such as Troy Ruston from ibuiltkits and Professor Carl Sales from Unitec. Their insights into automotive customization, architectural design, and gaming technology enriched the events and expanded attendees' understanding of 3D printing applications.

The global ShareFest 2024 theme, "Imagine It, Make It," reflects Creality's vision of empowering users through innovative 3D printing solutions. The Australian series, themed "Add Color, Add Value," emphasized the growing trend of color printing, underscoring Creality's commitment to the Australian market and community engagement.

In addition to ShareFest, Creality participated in the Jaycar Retail Conference 2024 from September 15 to 17. As a Diamond Package participant, Creality showcased its latest products and engaged in strategic discussions with 136 store managers and decision-makers from the ANZ region. This involvement highlights the significance of Creality's partnership with Jaycar, enhancing local support throughout Australia.

As a sponsor, Creality featured products like the K2 Plus Combo and HALOT series at the conference, with plans to expand product offerings in all Jaycar stores. This collaboration ensures that Australian customers receive the latest products and reliable after-sales support. Creality was recognized with the Collaboration Trade Partner Award by Jaycar during the conference.

In an interview at the Gold Coast ShareFest, CEO Adam Ao expressed his gratitude, stating, "Your enthusiasm highlighted the transformative potential of 3D printing in everyday life. We believe in making 3D printing accessible to everyone, which is why we focus on localized innovation to meet diverse market needs, including specialized machines for footwear and dental applications. We're excited about continuing this journey of innovation together."

Media Contact: brand@creality.com

** The press release content is from PR Newswire. Bastille Post is not involved in its creation. **

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