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UK’s USD 2bn food delivery startup Deliveroo to set up India operations

Wednesday, January 3, 2018, 12:00 Hrs  [IST]

As per a report in TOI, the exuberance in the online food delivery sector is starting to resemble the go-go days of 2015. The latest to join the so-called food tech bandwagon is Deliveroo, the UK startup valued at USD 2 billion and which is preparing to launch locally next year, sources close to the matter said.

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, two people aware of the development said. Backed by Fidelity and T Rowe Price, among others, a bunch of other investors will compete with local players like Swiggy and Zomato as well as the relatively new entrant UberEats. Uber’s local rival Ola also re-entered the crowded category by acquiring Foodpanda from Delivery Hero just recently.

A person aware of the development 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 in 2013 by former investment banker Will Shu, the London-headquartered Deliveroo operates in 140 cities across 13 countries in Asia-Pacific, Europe and the Middle East. Greg Orlowski, the other founder of the food-delivery startup, had quit in 2016 to go back to his home country.

Deliveroo will find it difficult to compete with the well-heeled domestic players, all of which have scooped up capital from investors and are familiar with the local market. And now with UberEats and Ola’s recent purchase of Foodpanda, there are four strong incumbents Deliveroo will be facing locally. In Asia, Deliveroo operates in Hong Kong, Singapore and the UAE.

 
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