Chennai-based hyperlocal delivery startup Genie has acquired Chennai’s food delivery services startup Dinein in an all-stock deal.
The acquisition will help Genie strengthen its business by bolstering volume and adding customer touch points, the company said in a statement.
According to the deal, Genie will acquire the Dinein brand, its 25-member team, the delivery team, restaurant partner contracts, technology and its call centre business.
The acquisition will further add to Genie’s customer base, improve the experience for overlapping customers and help roll out their business offerings to restaurant partners.
Vinit Chordia, founder of Dinein, said, “With a focused food delivery service and a pure play logistics platform coming together, we aim to create a wholesome service that can help users get anything they need at their doorstep.”
Founded in 2012, Dinein was backed by Mithun Sacheti, founder of Caratlane.com (Now a part of Tata’s Tanishq). At present, Dinein works with more than 250 restaurants in Chennai for their food delivery and claims to enable more than 6000 orders in a month.