UK’s food tech unicorn Deliveroo plans to enter India, looks to set up local team

Visual sourced from Deliveroo website.

After a period of lull, the food-tech space in India especially food delivery has picked up pace over the last few months.

Following ride-hailing major Ola acquiring lagging food delivery service operator Foodpanda‘s India operations, it is now reported that Deliveroo, the $2 billion UK startup, is planning to make its foray into the country.

According to a Times of India report quoting sources, Fidelity and T Rowe Price-backed Deliveroo is in the process of hiring a country head along with setting up a full-fledged team in India.

Last month Uber’s local rival Ola acquired the Indian operations of food delivery platform Foodpanda from Germany-based Delivery Hero Group, and committed to investing $200 million in the food delivery business.

In India, Deliveroo will face stiff competition from Swiggy and Zomato that already have a strong investor backing and hold in the market. Uber, also launched its food delivery service Uber Eats in India a few months ago.

Founded in 2013 London-headquartered Deliveroo operates in 140 cities across 13 countries in Asia-Pacific, Europe and the Middle East. In Asia, Deliveroo operates in Hong Kong, Singapore and the UAE.

The report follows Deliveroo’s $385 million latest fund raise in September, which has valued the startup at $2 billion. The funding round was led by T Rowe Price Associates, Inc and Fidelity Management & Research Company, who have previously backed global technology companies including Facebook, AirBnB and Tesla. Its existing investors DST Global, General Catalyst, Index Ventures, and Accel Partners also participated in the round.

“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,” said one of the sources

Food delivery companies have faced their share of hurdles in the country, leading to a consolidation in this space including the recent acquisition of food delivery start-up Runnr by Zomato Media Pvt Ltd. Runnr was formed last year after a merger between hyperlocal delivery startup Roadrunnr and food-ordering startup TinyOwl, both of whom were struggling financially.

Also Read:

Uber rival Ola acquires Foodpanda India, commits $200m to food delivery biz

India: Zomato acquires delivery startup Runnr

UK food tech startup Deliveroo raises $385m in fresh round, valuation hits $2b

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.