Prominent online food delivery company Foodmandu has landed a 46 crores investment from Dolma Impact Fund. The funding will inspire the company to tap into more cities to serve foods right on customers’ doors.
Both the companies have signed on the MoU that brings into Foodmandu USD 4 million (46 crores in NPR). The amount is yet to receive the final nod by the Fund.
This is the third and the largest yet investment the company has landed since its inception in 2010. Before, Dolma Impact Fund, Foodmandu received major investments from two private equity firms. It received the first round of investment from True North Associates in 2016, and second from Team Ventures in 2020.
Dolma has also said that it is entertaining potentially more follow-on investments in Foodmandu in the years to come.
Foodmandu’s stakes have risen as the most popular food delivery service in Nepal. Especially after COVID-19, its significance has grown even further than that of any eCommerce entity.
Foodmandu is trying to break into more cities. Currently, it is serving customers inside the valley, and Pokhara. With the investment from Dolma, Foodmandu intends to lift its services to international standards. The company has also set eyes on “some exciting new verticals and geographical expansions.”
Besides, the company wants “to advance existing technologies and create and sustain thousands of jobs in the next 5 years.”
Foodmandu was launched in 2010 AD and has evolved into the country’s most popular online food delivery service provider. To acquire its service, the users have to download its mobile app and choose their nearest restaurant and food and confirm the order. Foodmandu will have you served right at your door.
But it is not limited to food delivery only. Foodmandu also includes grocery and beverage services via two separate verticals; Foodmandu Fresh, and Foodmandu Bar.
Currently, Foodmandu is serving in Kathmandu, Lalitpur, Kirtipur, Bhaktapur, and Pokhara. It is serving 3000K+ customers in its service areas and seeks more expansions in the coming months.
With the latest investment from Dolma, Foodmandu will have the resources to tap into more markets and expand its business with more panache and spirit.