Foodpanda plans to invest Rs 400 cr

Online marketplace for food delivery, Foodpanda today announced its plans to invest Rs 400 crore in the country.

The investment would focus on scaling up technology, ensuring seamless experience for partner restaurants, users and riders across all the metros and other key cities in the country, the company said in a release. Additionally, the company plans to hire 25,000 delivery riders in the next 12 to 15 months.

“Creating a strong delivery ecosystem backed by technology is one of the most fundamental needs of the Indian food tech industry. We at Foodpanda recognise this and are investing INR 400 crore to further strengthen our delivery network across all the metros and other key cities,” Foodpanda India CEO Pranay Jivrajka said.

“We are also ramping up our last mile connect by hiring 25,000 delivery riders. This is in line with our go to market strategy to make a difference in the food ordering experience of our restaurant partners, customers and riders,” he said.

With a focus on strengthening relationships with partner restaurants, Foodpanda said it is going to enable them with robust back-end technology and provide assistance through their own delivery network. The investment will focus on creating transparent, more efficient and time saving procedures for delivery logistics, it said.

The investment would also entail partner and rider recognition programmes for better performance.

Foodpanda claims to be India’s leading online food ordering and delivery platform with menus from 15,000 plus restaurants across 150 plus cities in the country available on its app and website. In December 2017, Ola had acquired Foodpanda with a commitment of infusion of funds to the tune of Rs 1,300 crore from parent ANI Technologies Pvt Ltd.

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