Total amount raised
$2.1 Billion
Latest funding date
8/1/2022
Location
iFood has successfully raised funding over 8 rounds, with the latest being a Secondary Market round led by Prosus. The company has also made 6 investments and acquired 12 organizations, showcasing its active role in the market.
Keep reading to explore the intricacies of iFood's fundraising journey and the investors backing this innovative platform.
What Is iFood?
iFood is a prominent online food ordering and delivery platform based in Osasco, Sao Paulo, Brazil. The company operates in the e-commerce, food and beverage, food delivery, and restaurant industries.
With a substantial workforce of 5001-10000 employees, iFood has established itself as a key player in the market. The company has raised significant funding through multiple rounds and has made several strategic investments and acquisitions to expand its operations.
How Much Funding Has iFood Raised?
- Series A
- Amount Raised: USD 1,560,000
- Date: August 2011
- Lead Investors: Warehouse Investimentos
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong market presence and develop the initial platform.
- Series B
- Amount Raised: USD 2,600,000
- Date: February 2013
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and increase market share in Brazil.
- Series C
- Amount Raised: USD 2,000,000
- Date: February 2014
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and improve service offerings.
- Series D
- Amount Raised: USD 5,700,000
- Date: September 2014
- Lead Investors: Just Eat Takeaway.com
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and increase operational capacity.
- Series E
- Amount Raised: USD 50,000,000
- Date: June 2015
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To acquire other companies and enhance technology infrastructure.
- Series F
- Amount Raised: USD 30,000,000
- Date: July 2016
- Lead Investors: Movile
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve service offerings and increase operational capacity.
- Series G
- Amount Raised: USD 500,000,000
- Date: November 2018
- Lead Investors: Movile, Prosus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development, innovation, and geographical expansion.
- Secondary Market
- Amount Raised: EUR 1,500,000,000
- Date: August 2022
- Lead Investors: Prosus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance technology infrastructure.
Total Amount Raised: USD 2,091,860,000
Current Valuation: Not publicly disclosed
Key Investors
- Prosus
- Details: Prosus is a global consumer internet group and one of the largest technology investors in the world. They are actively involved as a lead investor in multiple funding rounds for iFood.
- Investment Focus Areas: Internet services, online classifieds, food delivery, payments, fintech.
- Notable Investments: Tencent, Delivery Hero, Swiggy.
- Movile
- Details: Movile is a leader in mobile marketplaces in Latin America, focusing on technology and innovation in mobile services. They are the majority shareholder of iFood and have invested significantly in the company.
- Investment Focus Areas: Mobile marketplaces, technology, innovation in mobile services.
- Notable Investments: Various tech startups and companies in Latin America, including iFood.
- Innova Capital
- Details: Innova Capital is a private equity firm that focuses on investments in the technology, media, and telecommunications sectors. They have committed to invest in Movile for further investment in iFood.
- Investment Focus Areas: Technology, media, telecommunications.
- Notable Investments: Various technology and media companies.
- Just Eat Takeaway.com
- Details: Just Eat Takeaway.com is a leading global marketplace for online food delivery, connecting consumers with local restaurants. They have invested in iFood to expand their market reach.
- Investment Focus Areas: Online food delivery marketplaces.
- Notable Investments: Various food delivery platforms around the world.
- Naspers
- Details: Naspers is a global consumer internet group and one of the largest technology investors in the world. They have committed to invest $400 million of new capital into Movile for further investment in iFood.
- Investment Focus Areas: Internet services, online classifieds, food delivery, payments, fintech.
- Notable Investments: Tencent, Delivery Hero, OLX.
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. With a vast market in Brazil and beyond, the company aims to leverage artificial intelligence to personalize the food delivery experience, enhancing both customer satisfaction and operational efficiency.
Future fundraising appears promising, given the strong investor confidence from major backers like Naspers and Innova Capital. This financial support could fuel further technological advancements and geographical expansion, positioning iFood as a dominant player in the region.
However, challenges remain. Maintaining rapid growth in a competitive industry, managing a large network of couriers and restaurant partners, and ensuring high-quality service as the company scales are critical hurdles. Addressing these challenges will be key to sustaining iFood's upward trajectory.
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