Total amount raised
$2.1 Billions
Latest funding date
8/1/2022
Location
iFood has successfully raised significant funding across multiple rounds, attracting notable investors such as Prosus & Naspers and Innova Capital. The platform specializes in online food ordering and delivery, offering a comprehensive service to its users.
Continue reading to delve into the details of iFood's funding journey and the key investors supporting this dynamic platform.
What Is iFood?
iFood, founded on May 15, 2011, in Osasco, Sao Paulo, Brazil, is an innovative online food delivery platform. The company was established by Eduardo Baer, Felipe Ramos Fioravante, Gabriel Pinto, Guilherme Bonifacio, Michel Eberhardt, and Patrick Sigrist.
iFood aims to revolutionize the food industry by providing a hassle-free system for users to order food online from a variety of restaurants. The platform also manages relationships with partner restaurants, offering services like onboarding and market consultancy.
With a workforce of between 1001-5000 employees, iFood continues to expand its reach and enhance its services, making food delivery more practical and enjoyable for its users.
How Much Funding Has iFood Raised?
- Series A
- Amount Raised: $1.6M
- Date: August 2011
- Lead Investors: Warehouse Investimentos
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the platform and begin scaling operations.
- Series B
- Amount Raised: $2.6M
- Date: February 2013
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve technology infrastructure.
- Series C
- Amount Raised: $2M
- Date: February 2014
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service offerings and increase user base.
- Series D
- Amount Raised: $5.7M
- Date: September 2014
- Lead Investors: Just Eat Takeaway.com
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market position and drive growth in key regions.
- Series E
- Amount Raised: $50M
- Date: June 2015
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand geographically.
- Series F
- Amount Raised: $30M
- Date: July 2016
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and logistics capabilities.
- Series G
- Amount Raised: $500M
- Date: November 2018
- Lead Investors: Movile, Prosus & Naspers
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in AI, expand logistics, and pursue M&A opportunities.
- Secondary Market
- Amount Raised: €1.5B
- Date: August 2022
- Lead Investors: Prosus & Naspers
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to shareholders and support long-term growth.
Total Amount Raised: $2.09B
Current Valuation: Not publicly disclosed
Key Investors
- Prosus & Naspers
- Details: Prosus & Naspers is a global consumer internet group and one of the largest technology investors in the world. They have a significant presence in various sectors, including e-commerce and food delivery.
- Investment Focus Areas: E-commerce, food delivery, fintech
- Notable Investments: Tencent, Delivery Hero, Swiggy
- Movile
- Details: Movile is a leading mobile commerce platform in Latin America, known for its investments in high-growth technology companies. They are the majority shareholder of iFood.
- Investment Focus Areas: Mobile commerce, food delivery, logistics
- Notable Investments: PlayKids, Sympla, Zoop
- Just Eat Takeaway.com
- Details: Just Eat Takeaway.com is a leading global online food delivery marketplace. They have expanded their reach through strategic acquisitions and investments.
- Investment Focus Areas: Food delivery, logistics, technology
- Notable Investments: Grubhub, Menulog, SkipTheDishes
- Warehouse Investimentos
- Details: Warehouse Investimentos is a Brazilian venture capital firm that focuses on early-stage investments. They were one of the initial investors in iFood.
- Investment Focus Areas: Technology, startups, innovation
- Notable Investments: Not publicly disclosed
- Innova Capital
- Details: Innova Capital is a private equity firm that invests in high-growth companies, primarily in Central and Eastern Europe. They have supported iFood through multiple funding rounds.
- Investment Focus Areas: Technology, media, telecommunications
- Notable Investments: Not publicly disclosed
What's Next for iFood?
iFood stands at the cusp of significant growth opportunities, driven by its plans to accelerate product development and expand geographically across Latin America. Leveraging artificial intelligence to enhance the food delivery experience, the company aims to triple the number of restaurants on its platform and double its courier fleet. This expansion is poised to solidify iFood's market position and drive substantial growth.
Future fundraising opportunities appear promising, with the potential for additional investments to support further acquisitions and technological advancements. However, iFood may face challenges such as intense competition, managing rapid growth, and maintaining high service quality. Navigating these hurdles will be crucial for sustaining its upward trajectory.
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