Chinese tech group Tencent has led a $96m investment round in restaurant technology company Flipdish, raising its value to $1.25bn — more than 10 times what it achieved in its previous funding round last year.
Flipdish provides technology for creating food ordering apps, a business that boomed during the pandemic when many restaurants found themselves having to create takeaway services from scratch.
The deal highlights investor interest in companies serving the fast-growing home delivery sector, which has benefited from consumers turning to online ordering during successive lockdowns over the past two years.
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