Food delivery apps have been a big deal this year for consumers stuck at home and unable (or unwilling) to go to restaurants or grocery stores; and for investors who are eyeing the opportunity to back rising stars to help them grow. Today came the latest development in that story: HungryPanda, which makes a Mandarin-language app specifically targeting Chinese consumers outside of China, has raised $70 million to continue its global expansion in delivering food from Chinese restaurants and Asian grocery stores targeting the Chinese diaspora. Estimates put the number of Chinese people living abroad (counting students and first-generation immigrants, and counting those living outside of the Mainland, Taiwan, Hong Kong and Macau) at around 50 million, with most of them concentrated in other Asian countries, so that is a specific target for the startup.
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Ingrid Lunden, TechCrunch
Mon, 11/30/2020 - 1:24am
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