China’s popular food delivery service Ele.me (which translates to “Hungry?”) raised a whopping $630 million in Series F funding at a $3 billion valuation right before the weekend.
The round propels it into the number three spot of China’s top-funded startups, with about $1.1 billion in capital raised to date. Group buying website Meituan slips to fourth place, also with about $1.1 billion — though it could be argued the two are now joint-third.
Meanwhile, taxi-hailing app Didi Kuaidi and smartphone maker Xiaomi are still ahead in spots one and two respectively.
The latest round saw these existing investors back for more, plus the addition of Chinese retailer Hualian Group and private equity firm Gopher Asset.
The company now claims to have 300,000 restaurants on its platform across 260 cities in China, records close to $9.5 million in daily orders from about 40 million customers (98 percent of which are through mobile), and employs 10,000 people.
Ele.me leads the country’s online-to-offline (O2O) food ordering market with 40 percent market share, according to Beijing-based research firm Analysys International. (Meituan and Baidu are second and third, respectively.)