Foodpanda to invest Rs 400 crore to reinforce its delivery network

Foodpanda, the online marketplace for food delivery, has announced its plans to invest Rs 400 crore in the country. The investment would focus on scaling up technology, ensuring seamless experience for partner restaurants, users and riders across all the metros and other key cities in the country. Additionally, the company plans to hire 25,000 delivery riders in the next 12 to 15 months.

With a focus on strengthening relationships with partner restaurants, Foodpanda will enable them with robust backend technology and provide assistance through their own delivery network. The company also looks forward to creating targeted interventions for key partner restaurants to create a significant long-term business value. A strong technology backend and a dense logistics network would also ensure better services for present and prospective customers. The investment will focus on creating transparent, more efficient and time-saving procedures for delivery logistics. The investment would also entail partner and rider recognition programs for better performance.

Pranay Jivrajka, CEO, Foodpanda India, said, “Creating 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 Rs 400 crore to further strengthen our delivery network across all the metros and other key cities.”

Adding further, Pranay said, “We are also ramping up our last-mile connect by hiring 25,000 delivery riders. This is in line with our go to market strategy to make a difference in the food ordering experience of our restaurant partners, customers and riders.”

Owing to increasing urbanisation, growth in the internet population, higher disposable incomes and rising preference for online food ordering, Foodpanda is gearing itself to significantly grow the percentage of orders that are fulfilled by the depth and expanse of its delivery services.

Foodpanda has menus from 15,000+ restaurants across 150+ cities in India available on its cutting edge app and website, In December 2017, Ola acquired Foodpanda with a commitment to infuse funds to the tune of Rs 1,300 crore from parent ANI Technologies Pvt Ltd.

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