London-based online food delivery company Deliveroo is looking to open its shop in India, reports Times of India. The publication also reports that the company is in a process to hire a country head and a team to spreadhead its launch in India.
Deliveroo is reportedly valued at $2 billion, after it raised a series F funding of Rs $385 million in September 2017 led by US fund managers T. Rowe Price, and Fidelity along with existing investors like DST Global, General Catalyst, Index Ventures, and Accel Partners. According this Techcrunch’s report, the company said that it plans to use the funding amount for expanding into new countries. Deliveroo currently operates 14 countries, including Australia, Belgium, France, Germany, Hong Kong, Italy, Ireland, Netherlands, Singapore, Spain, United Arab Emirates and the United Kingdom.
Food delivery space in India
The food delivery segment in India is seeing a lot of action off lately, and Deliveroo will largely compete with the likes of Swiggy, Foodpanda India, UberEATS, and Zomato.
Most recently, cab aggregator Ola bought Foodpanda India from its Germany-based parent Delivery Hero Group, and said that it will invest $200 million into the Foodpanda India business.
Meanwhile cab aggregator Uber started its food delivery service UberEATS in India with Mumbai in June 2017, and then later expanded to Gurgaon, Bangalore, Chennai, Chandigarh, Delhi, and Hyderabad.
The food delivery space in India is currently dominated by players like Swiggy and Zomato. Zomato had started its online ordering service back in March 2015. Swiggy was founded in August 2014, and is currently available in 8 cities (including Ahmedabad), and Zomato’s food delivery is currently live in 15 cities in India. It claims to have over 9000 restaurant partners live on its platform. For the month of July, Zomato surpassed 3 million online orders, also reported food ordering revenues of $9 million for the financial year ended 31st March 2017 (FY17), around 8 times of FY16. Swiggy’s claims to stand ahead of Zomato with 4 million orders per month