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Online food ordering marketplace Foodpanda is reportedly in the process of raising fresh capital. The company mandated Mumbai-based mid-market investment bank o3 Capital for a $40-60 Mn fund-raise as it initiates talks with investors, people close to the development said.
According to sources, the fund-raise process could also eventually lead to the sale of Foodpanda. The company still plans to sustain its operations in India.
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