FoodPanda to expand its services to 50 markets by June.

Multi-location online food ordering platform FoodPanda will be expanding its services to 50 markets, including in India, by June as it pushes to build volumes and turn profitable in the next two years.

The New Delhi-based company will extend its footprint in South-East Asia, Middle East and Russia and enter newer markets, such as Central and Eastern Europe and Australia.

'We're looking to double our presence globally, as well as in India, by the second quarter of the year,' said Rohit Chadda, 30, cofounder and managing director of FoodPanda, who expects his company to launch services in 30 Indian cities and break even by the end of fiscal 2015.

The expansion plans will be funded from a recent round of investment which saw FoodPanda raise $20 million (Rs. 122.2 crore) from strategic investor iMENA Holdings, Rocket Internet and Moscow-based venture capital firm, Phenomenon Ventures in February.

ET