The Ola-owned food ordering and delivery application, FoodPanda, acquired the Mumbai-based Holachef Hospitality for an undisclosed amount, according to a statement made by the company on October 16.
FoodPanda’s goal is to create the country’s largest cloud kitchen space which will help them improve the food experience they offer to their customers. With this idea, the company acquired Holachef, a firm that delivers home-cooked food to customers in Mumbai and Pune.
Post the acquisition, FoodPanda will take over kitchens and equipment of Holachef as well as absorb the employees of the company. The founders of the company will join the leadership team of FoodPanda.
With competitors such as Swiggy and Zomato in the food ordering sector, FoodPanda is slowly making a mark in the market and plans to launch a whole new food brand soon. The company currently has 25,000 restaurant partners and receives 3 lakh orders each day. The firm currently has 1.25 lakh delivery partners. It plans to invest Rs.400 crore to widen its network in the country.
FoodPanda is owned by Ola, the popular cab aggregator – which is in turn run by ANI Technologies. Holachef is Ola’s second acquisition, after FoodPanda, in the past one year. Ola had acquired FoodPanda in December 2017.
Holachef was created in 2014 and is backed by India Quotient, Kalaari Capital, and Ratan Tata.
Source: Money Control