Oct 22: Foodpanda, online food delivery company backed by Ola, has acquired Holachef, a food – tech platform based in Mumbai. Foodpanda has made its foray into the cloud kitchens with the acquisition, and also intends to launch its own food product in different categories.
The company presently has around 125K partners. Foodpanda is taking over the kitchens, equipment related businesses of the newly acquired company Holachef. Employees by Foodpanda will also be working for Holachef. The founders of Mumbai based company will be part of the Foodpanda leadership team.
As per a news reports quoting Pranay Jivrajka, CEO at Foodpanda, Ola helps the company reach out to over 150 million customers. With the acquisition, the company aims at becoming India’s largest cloud network kitchen.
Holachef is an aggregator who connects customers with chefs across the city. Saurabh Saxena and Anil Gelra launched the company in the year 2015. The Holachef official website reveals that a customer can place orders through the mobile application or on the desktop. It also says that the customers are offered a new menu every day.
At Holachef, the customers are allowed to choose the delivery time. The single person meal is delivered in recyclable containers. The company had raised a $3 million funding from India Quotient in the form of convertible notes in February 2015. In its extended Series B round of funding led by Kalaari Capital in April 2017, the company raised around $5 million.
Holachef officials have been quoted by news reports as saying that the company, through kitchens of quality and hygiene, looks to provide great food experience to its customers. With the acquisition by Foodpanda, the company will now be able to speed up this mission.
In December 2017, Foodpanda India was acquired by the homegrown cab aggregator Ola for $31.7 million. Recently Ola integrated the Foodpanda app in its cab service application. There were reports earlier that Ola is to acquire foodtech startup FreshMenu along with another startup in the similar segment.
In a cash- and- stock deal, Zomato an online restaurant discovery and food delivery app based in Gurugram had acquired TongueStun Food, a startup based in Bengaluru for around $18 million.