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After Foodpanda India & Ridlr, Ola Is Now Looking To Acquire Foodtech Startup FreshMenu

Ola Wants to Acquire More Food Delivery Startups

Taxicab Aggregator, Ola running under ANI Technologies Pvt. Ltd., is in converses with Food Tech Startup brand Freshmenu which is owned by Foodvista India Pvt. Ltd) and at least one similar firm.

Ola may raise supports independently for Foodpanda India business in the not so distant future to tap the solid and strong investor demand for food-tech startups.

In December, Ola purchased Foodpanda India from its German parent Delivery Hero AG in an all-stock arrangement and said it will contribute $200 million to extend Foodpanda’s tasks. Ola has made founding partner Pranav Jivrajka CEO of Foodpanda.

The online food delivery business, which was written off some time back, has gained more interest from lots of investor in the past six months.

Swiggy is the pioneer in online food delivery business with a 35-38% piece of the overall industry, trailed by Zomato at 25-30%, as indicated by RedSeer Consulting, a web centered consultancy. In 2017, average daily orders at food-ordering start-ups soared to 450,000 from 200,000 in previous year, RedSeer data shows. Food delivery has become a particularly lucrative opportunity for start-ups as margins in the business are much higher than in grocery and staples delivery or e-commerce.

As of late, Ola procured Ridlr and a year ago it gained FoodPanda India business to reinforce its underlying foundations in Cab and Online food oredering business both.

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