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VDeliver, an intra city logistics firm, has acquired Towny app, a food delivery firm which operates in 28 towns in Andhra Pradesh. The size of the cash-stock deal is not indicated.
“Towny has more than 25,000 app downloads and has a team of 250 service executives,” Srinivas Madhavam, founder and Chief Executive Officer of Vdeliver, said.
“This acquisition allows us to reach out to smaller towns across Andhra Pradesh and Telangana. This will open up new avenues of true hyper local business,” he said.
After the acquisition, Towny will be rebranded as Exprs and will be launched in Hyderabad, offering food delivery and other hyper local services in the city. By the end of financial year, VDeliver and Exprs will cater to 28 Tier-1 and 2 cities.
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