Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down

Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down

Felicitated with the 40 under 40 young achievers award by Fortune India for 2015, co-founder and managing director at Foodpanda India, Rohit Chadda, has stepped down as MD of the company.

Rohit Chadda, who also resigned from Foodpanda India’s board, said, “I have personally decided to step aside from my role as managing director of the company to pursue new initiatives. I have also resigned from the board, however, I will continue as a shareholder in the company, but will not be involved in its day-to-day operations.”

Rohit’s resignation is effective from August 1, 2015.

Rocket Internet backed online food delivery marketplace, Foodpanda India, was started by Rohit Chadda, Amit Kohli and Akhilesh Bali in 2012 in India.

Rocket Internet is known for building consumer internet companies on its platform that brings industry executives and designates them as CEO/COO by giving them stakes in its companies. Thus, Chadda was designated as a co-founder even though Foodpanda India was not his brainchild.

Talking about his new initiatives, Rohit said, “It will be to pursue new challenges and opportunities. The opportunity on mobile space is huge and that is what I am after.”

Apart from Foodpanda India, Rohit is also the co-founder of health, wellness and fitness startup, Corp Medics.

Owned by Foodpanda group, Foodpanda India helps restaurants to increase delivery sales through online and mobile platforms by providing them with constantly evolving technology and analytics.

Foodpanda India lists menus from over 12000+ restaurants across 200+ cities. Globally, foodpanda has partnered with over 45,000 restaurants in 40 countries across five continents.

Foodpanda group has raised over $300 Mn in multiple rounds of funding with the recent being $100 Mn, led by Goldman Sachs.

Let’s have a look at the funds raised by Foodpanda till date:

April 2013: $20 Mn in series A funding from Phenomen Ventures, Investment AB Kinnevik and Rocket Internet AG

September 2013: $8 Mn in Series B funding from iMENA Holdings.

February 2014: $20 Mn in Series C funding from Investment AB Kinnevik and Phenomen Ventures

August 2014: $60 Mn in Series D funding from Falcon Edge Capital and Rocket Internet AG.

March 2015: $110 Mn in first round of Series E funding from Rocket Internet AG

April 2015: $100 Mn in round of Series E funding from Goldman Sachs and Rocket Internet AG

Besides, Foodpanda India has acquired two startups in the country. It acquired online food ordering platform, Tastykhana in November 2014 and Indian operations of online food ordering platform for take away food, JustEat in February 2015.

Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

Unlock 60% OFF
Cancel Anytime
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down-Inc42 Media
Foodpanda India Co-Founder & MD, Rohit Chadda Steps Down-Inc42 Media
You’re in Good company