Hyderabad-based Red Sprout Foods which owns the Hello Curry brand, has acquired the online food ordering and delivery service Paratha Post, reports Techcircle. The acquisition was done in an all cash and stock deal, however further details were undisclosed. Red Sprout Foods, which operates the fast food chain, said it is looking to acquire further startups especially in Mumbai.
Founded in 2013 by Rituraj Chaturmohta and Mukesh Lamba, Paratha Post is also based in Hyderabad, where it offers 55 varieties of parathas and curries. The platform claims to have sold around 3 lakh parathas last year and executed over 60,000 deliveries. As part of the deal, co-founder Lamba will join Hello Curry in a senior management post and will oversee the company’s expansion in Delhi NCR region, and report directly to Raju Bhupati, CEO of Hello Curry.
Hello Curry was founded only early last year with two kitchens in Madhapur and Gachibowli in Hyderabad. The platform has expanded to five outlets in the city since, and plans to add three more outlets in the next few months. It offers various foods including curry pots, biryanis, parathas, rolls, desserts and beverages to customers in Hyderabad, through these outlets, and its website.
Hello Curry had previously raised Rs 3 crore in seed funding from SRI Capital in March last year. The platform mentions its currently looking to raise a further Rs 50 crore in a Series A round of funding within the next 2-3 months.
– Earlier this month, Zomato acquired the cloud-based restaurant point-of-sale (POS) product MaplePOS for an undisclosed amount. MaplePOS was developed by a Delhi based company called MapleGraph, which was founded by Abhishek Rohilla, Arun Tangri and Varun Tangri in October 2013. Note Zomato had said it would enter the food delivery space in March.
– In March, Ola launched a food delivery service called OlaCafe for users to order food from nearby using the Ola app. The service is available in parts of Bangalore, Hyderabad, Delhi and Mumbai and users can pay either via Ola money or through cash. The company claims a delivery time of 20 minutes.
– Online food delivery company Holachef raised Rs 2 crore in a round of seed funding led by India Quotient in February. The platform currently lists dishes from various professional and amateur chefs on its platform. Users can order these meals, for lunch (12-6pm) and dinner (8-11:30pm), although orders have to be placed a few hours in advanced.
– Online food ordering portal JustEat.in, introduced a new user interface for its Android app, along with a new ‘haPPy hour’ feature in November last year. The company was initially acquired by Just Eat UK in January 2011, which subsequentlyrelinquished control over JustEat.in in November 2013 when Axon Partners Group and Forum Synergies India invested in the Indian entity.
– Former Times Internet CEO Rishi Khiani’s AntFarm had acquired the food delivery service Meals on Wheels for an undisclosed amount in November last year. The company then launched a redesigned version of Meals On Wheels website that allows users to search for their preferred restaurants, cuisines or dishes and place orders.
– Rocket Internet-backed FoodPanda had also acquired the Delivery Hero-backed online food ordering service TastyKhana for an undisclosed amount the same month. Pune-based TastyKhana, that had launched in 2007, had received more than $5 million investment from Delivery Hero in June 2013.
– It’s worth noting that FoodPanda itself has raised two rounds of investments, $60 million from a group of investors including Rocket Internet AG & Falcon Edge Capital in August and $20 million from a group of investors including Phenomen Ventures in February last year. Earlier this month, the platform forayed into food delivery service as well. The service was launched in Bangalore, Delhi, Hyderabad, Mumbai and Pune.
Image Source: Hello Curry