Just last month, we saw the acquisition of FoodPanda by Indian cab hailing firm Ola, a step to enter into online food delivery market.
While India’s Ola and america’s Uber instead of just doing cab aggregation, has entered into online food delivery market to heat up market preposition for old player like Zomato here comes the news that UK’s biggest online food delivery firm Deliveroo, valued $1.1 billion, is on verge of entering Indian market.
One of the best funded European startups, Deliveroo is in the process of hiring a country head along with setting up a full-fledged team in India, said a report by Times of India citing two people aware of the development.
The report further said, “They are in the midst of getting on board a person who will spearhead the launch in India along with building a team. After securing new funding, expanding into new geographies was on the cards for them.”
Founded 2013 by Americans Will Shu and Greg Orlowski. Deliveroo is based in London and operates in 84 cities in the UK alone. It has presence in almost every European countries and also in Australia, but in Asia it operates only in Hong Kong, Singapore and UAE, and now India, probably in few weeks.
In India, Deliveroo will compete with Zomato, Swiggy and Uber’s UberEats and Ola’s Foodpanda.
In September 2017, Deliveroo announced a $385 million Series F round. An additional $98 million was announced in November, bringing the total round to $480 million. In total, Deliveroo has raised about $954.5 million in six separate rounds of funding.
It is also notable that Zomato is competition to Deliveroo not just in India but in Australia, Italy, Ireland and UAE too. Zomato has its presence in 23 countries including India while Deliveroo is present in just 12 countries. Zomato is however less funded than Deliveroo but in terms of valuation both are more or less same as — Deliveroo valued $1.1 billion and Zomato valued at $1 billion — according to data by WSJ & Dow Jones venturesource billion dollar startup list updated on 1 Jan’18.