Dolma Impact Fund has signed an MoU to invest 46 crores in Foodmandu, a popular food delivery company. The investment will allow Foodmandu to increase more vertical and geographical expansions.
This is the third and the biggest round of investment in Foodmandu. However, the amount is yet to receive the final approval from Fund.
Prior to this, True North Associates and Team Ventures, both private equity companies made their investment in Foodmandu in 2016 and 2020 respectively. But this is not a one-off investment. Dolma Impact Fund has kept the doors open for “additional follow-on investments” in the future.
Foodmandu’s Plans with the Dolam Impact Fund Investment
Foodmandu is Nepal’s most prominent online food delivery platform. The company is currently serving in Kathmandu, Lalitpur, Kritipur, Bhaktapur, and Pokhara and eyeing new vertical and geographical expansions which would be more feasible with this large-scale funding.
With the investment, Foodmandu plans to elevate its services to international standards. The company also aims to use the funds to advance existing technologies and develop human resource capabilities. Besides, it also wants to “create and sustain thousands of jobs in Nepal over the next 5 years.”
Online delivery services have seen encouraging demands ever since COVID-19 and Foodmandu is no exception. In fact, the company has made a significant impact in the restaurant and food industry with its efficient delivery services over the years since its inception in 2010 AD.
Besides food delivery, Foodmandu also provides grocery and beverage delivery services through its separate verticals Foodmandu Fresh and Foodmandu bar.
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The company boasts an active customer base of 300K+ in the Kathmandu valley and Pokhara and the investment from Dolman Impact Fund will lift its morale for further expansions.
Do you use Foodmandu services for your food delivery? How do you rate its delivery timing and overall services? Leave your feedback in the comments below.