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Delivery Hero has invested DKK 30 million (€4m Euros) in Hungry Group, who are based in Denmark and also operate in The Netherlands and Ireland.
Founded just 4 years ago in Risskov, Denmark, by former JUST EAT Managing Director Morten Larsen, Hungry Group also have JUST EAT founder Jesper Buch as an investor.
CEO and Founder Morten Larsen commented:
“I am proud to announce that Delivery Hero has invested DKK 30 million in Hungry Group. The investment gives us the power to invest more in Netherlands and Ireland to become bigger and stronger. Also our mobile platform will be one of the areas where investments will continue to take place, It took exactly four years, going from start-up to be active in three countries with 60 employees and selling food for more than €34M per year”
Hungry Group have a very strong team across their 3 European markets with many ex JUST EAT guys (who were integral in growing JUST EAT to become the worlds number one) such as JUST EAT co-founder Henrik N. Østergaard and key senior guys such as Rune Risolm, James Galvin and David Evans.
We recently interviewed Marvin.ie Managing Director James Galvin for Irish Tech News, in which he told how as Marvin.ie are second largest in Ireland, contrary to popular belief in Tech Marketplaces that second place is actually a profitable place to be, to read that click here
There has been lots of M&A activity recently in the Food Tech space with JUST EAT acquiring UK based Hungryhouse and in turn making themselves the undisputed number one player in the UK, with all other competitors a slash in the ocean in comparison.
Delivery Hero CEO Niklas Östberg told CNBC on Tuesday: “We are in a position where we could at any point in time decide to go public (though) at the same time we don’t have really a rush,” Clearly investing in a fast growing Startup such as Hungry Group is only going to make their IPO prospectus even better reading.
I worked for many years at JUST EAT with many of the guys involved in Hungry Group and I know first hand how kick ass they all are and how hard they work. I am delighted they are doing such a great job in building Hungry Group. Congratulations to them on the raise and wishing them all the best of luck with scaling up!
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