Fast-growing food delivery company Chowbus raised $33 million in a Series A funding round, the company announced Wednesday.
The funding was led by venture capital firms Altos Ventures, based in Silicon Valley, and Left Lane Capital, based in New York City. Other contributors were Hyde Park Angels, Fika Ventures, FJ Labs and Silicon Valley Bank.
Founded in 2016, Chicago-based Chowbus focuses on authentic Asian food, hand-picking its restaurant and grocery partners to ensure quality. It increased revenue 700% in the past year and has grown its staff by 300%, the company said in a statement announcing the funding.
Chowbus offers delivery and pickup as well as a new contactless dine-in service that allows users to order and pay from their phone in the restaurant. It also has a delivery bundling feature that lets diners order from multiple restaurants in a single order. It’s available in 22 markets, including New York, Los Angeles and Chicago.
The company said it will use the new funding to grow existing business, expand into new cities and launch new products.
"Chowbus is proud to empower independent Asian restaurants and grocery stores across North America to share their diverse cuisine and grow their business," said Linxin Wen, co-founder and CEO of Chowbus. “When we say we’re true partners to the restaurants we work with, we mean it. By eliminating hidden fees, helping them showcase their best dishes, and other efforts we make on their behalf, we really go the extra mile to help our restaurant partners succeed.”
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