Bigger India
UK’s $2bn food delivery startup Deliveroo to set up India ops
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.
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 $2 billion which is preparing to launch locally, 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.