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Foodtech Startup Foodmandu Raises Series B To Enter New Cities


Nepal-based food delivery platform Foodmandu has raised an undisclosed amount in Series B funding round from Nepal-based private investment fund Team Ventures. Prior to this, Foodmandu had got initial funding by Nepal-based venture capital True North Associates (TNA) in 2016.

As part of this transaction, Team Ventures will get a 20% stake in Foodmandu through
a mix of new shares and partial buy-out of TNA’s holding. Notably, Foodmandu was the first investment made by TNA.

With the recently raised funds, Manohar Adhikari founder and chief technology officer of Foodmandu said that the company will invest in them primarily for ...


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