Foodpanda has added 30 more cities to its repertoire, and is now present in 50 cities according to a press statement. It will now be available in Jodhpur, Kota, Udaipur, Amritsar, Ludhiana, Jalandhar, Dehradun, Allahabad, Varanasi, Surat, Vadodara, Aurangabad, Bhopal (across Uttar Pradesh, Rajasthan, Punjab, Gujarat, Madhya Pradesh and Maharashtra) etc.
- It claims to be the only/first online food delivery platform in 13 cities including Ajmer, Bikaner, Mathura, Rajkot, Jabalpur, Ujjain and Meerut.
- The company targets to expand to a total of 100 cities by the end of November.
- It will next expand to the eastern and southern parts of India.
- Foodpanda claims to have 125,000 delivery personnel on its platform.
Last month, Foodpanda launched in thirteen cities: Jaipur, Chandigarh, Kanpur, Lucknow, Indore, Ahmedabad, Nashik, Nagpur, Mysore, Bhubaneswar, Guwahati, Visakhapatnam and Coimbatore. In these cities, Foodpanda partnered with 3,000 restaurants and 5,000 delivery agents. Foodpanda hopes to quadruple the delivery fleet by March next year.
Foodpanda’s timeline in India
It is no surprise that Foodpanda has launched in cities that Ola is already present in (see a list here). Rocket Internet launched the food delivery platform in India in 2012. Since then, it has raised:
- $20 million in May 2013 (AB Kinnevik owned 24.2% stake in the parent company Rocket Internet)
- $20 million in February 2014
- $60 million in August 2014
- $110 million in March 2015
- $100 million in May 2015
In December 2015, the company laid off 15% of its staff across verticals, to become ‘sustainable and profitable’ in India. Foodpanda claimed that it had reduced manual intervention and hit 98% automation rate in order processing, thus leading to cutting its workforce.
In December 2016, Foodpanda itself was acquired by brother company Delivery Hero. Exactly a year following that, online cab aggregator Ola acquired Foodpanda’s India operations, saying it would invest $200 million in it.
- In Q1 2016, Foodpanda reported revenues of $11.13 million, a 74% growth, as compared to $ 6.35 million in the same quarter in 2015. It then had $100.07 million in cash reserves that quarter.
- For FY 2016-17, Foodpanda India reported revenues of Rs 62.16 crore, an increase of 64% from Rs 37.81 crore in the previous year. For FY16-17, it registered a loss of Rs 44.81 crore compared to Rs 142.64 crore in the same year last year.