- Food Delivery Startup Swiggy To Foray Into Hyperlocal Segment, Starting With Medicines And Groceries Bengaluru-based online restaurant search and food delivery startup Swiggy is reportedly looking to foray into the hyperlocal vertical, particularly the medicine and grocery categories. The move, sources have revealed, is geared towards boosting the company’s overall volume. Reportedly dubbed as “Dash”, the hyperlocal service will be launched as a pilot in some categories over the […]
- After Coatue Management, Swiggy Now In Talks To Raise Funding From DST Global Just over two months after securing $100 Mn in a Series F funding round led by Naspers at a valuation of $700 Mn, homegrown online food delivery startup Swiggy is reportedly in talks with Hong Kong-based VC firm, DST Global, for a proposed investment. Founded in 2009 by Yuri Milner, DST Global has backed some […]
- With 45% Y-O-Y Growth In FY18, Here’s Where Zomato Is Earning Its Revenues From As the Indian foodtech unicorn Zomato hit 5.5 Mn monthly food orders in March 2018, the FY18 results of the company are enough to set a benchmark here for rest of the industry. In a recent blog post, Zomato shared a 45% Y-O-Y growth, generating $74 Mn revenues in FY18 (unaudited results), compared to $51 […]
- After Raising $100 Mn, Swiggy Now In Talks With Coatue Management For Another $100 Mn New York-headquartered technology hedge fund Coatue Management is reportedly holding discussions with a couple of other investors to pump $50 Mn-$100 Mn in homegrown online food delivery startup Swiggy. The development comes less than two months after the Bengaluru-based startup raised $100 Mn in Series F funding round led by Naspers at a valuation of […]
- Foodtech Startup Fingerlix Raises $1.31 Mn Venture Debt From Alteria Capital Ready to cook foodtech startup Fingerlix has raised $1.31 Mn (INR 8.5 Cr) of venture debt from the maiden venture debt fund launched by Alteria Capital this month. Shripad Nadkarni, Founder and Director at Fingerlix stated, “Our experience of raising Venture Debt with Alteria was not only smooth and quick but delightful! The team is […]
- Foodpanda Announces Launch Of State-Of-The-Art Technology Centre In Bengaluru Food delivery platform, Foodpanda has announced the launch of its technology centre in Bengaluru. The state-of-the-art technology centre will be operational in next few weeks. In a media statement, the company claimed that the centre aims to strengthen the technology infrastructure, product capabilities and end user experience for the company. For the purpose, the company […]
- Riding High On Zomato Gold, FoodTech Unicorn Touches 150K+ Customers Mark In 4 Months Riding high on the customer feedback, foodtech unicorn Zomato has recorded 150K+ users on its subscription-based service, Zomato Gold. In a blog post, the company claimed that more than 2K restaurants have joined the Zomato Gold services. The foodtech company’s CEO Deepinder Goyal wrote that the “journey of Zomato Gold has been phenomenal so far”. […]
- Zomato Co-founder Pankaj Chaddah Resigns, Will Likely Start Something New In a major jolt to Zomato, company’s co-founder Pankaj Chaddah has decided to move away from the foodtech unicorn. In a blog post, Zomato CEO, Deepinder Goyal broke the news of Pankaj’s resignation. Deepinder Goyal and Pankaj Chaddah together began Zomato’s journey in 2008. Deepinder wrote, “Today – the time has come for me to […]
- Hyperlocal Delivery Startup Grab Raises $1.5 Mn From SIDBI’s Venture Capital Arm Mumbai-based hyperlocal delivery startup Grab has raised $1.5 Mn (INR 9 Cr) funding from SIDBI Venture Capital Arm, SIDBI Venture Capital Limited (SVCL). Commenting on the investment utilisation plans, Pratish Sanghvi (Grab Co-Founder) stated, “We have created significant traction past year and are reporting double-digit gross margins, this fund raise is adequate for utilisation towards scaling […]
- The Rise Of FoodTech And What That means For Startups And Investments The Indian food industry, the sixth largest in the world, has seen unprecedented growth in terms of size and revenues over the past five years. Retail startups contribute about 70% to the total sales, while food processing companies account for the balance 30% of the country’s total food market. A high-growth sector, the Indian food […]
- Agritech Focussed VC Firm Omnivore Partners Makes First Close Of Second Fund At $46 Mn Agritech focussed venture capital firm Omnivore Partners has announced the first close of its second fund at $46 Mn. As per reports, the amount was raised from a clutch of investors, including SIDBI, RBL Bank, Sorenson Impact Foundation, Dutch Good Growth Fund (DGGF) and The Rockefeller Foundation, among others. US-based single-family office Ceniarth and German […]
- Hyperlocal Delivery Startup Genie Acquires Food Delivery Startup Dinein 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, […]