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Ola invests Rs 400cr in FoodPanda India

Keeping up with the race, Ola is investing Rs 400 crore in its newly acquired food delivery arm Foodpanda India. The development was first reported by The Economic Times. In a statement shared with MediaNama, company said that it will use the capital to further strengthening its delivery network, and will hire 25K riders throughout the country in the next 12 to 15 months. Besides, the company with scale up its technology, and its logistics network. Pranay Jivrajka, CEO, Foodpanda India said that "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 crores to further strengthen our delivery network across all the metros and other key cities." Neck-to-Neck race Note that the development comes after a week when online food ordering and delivery…

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