Ola-owned online food delivery company, Foodpanda India confirmed the acquisition of food-tech platform Holachef. With this acquisition, Foodpanda aims to mark its strategic entry into cloud kitchens. The company also plans to launch its own brand of food products in different categories.
Commenting on the acquisition, Pranay Jivrajka, CEO of Foodpanda India said, “Through the Ola platform, we have an unmatched access to over 150 Mn customers and an understanding of their preferences. With Holachef, we aim to build India’s largest cloud kitchen network that will be a major step in further elevating the food experience for our customers.”
As part of the acquisition, Foodpanda will take over Holachef’s business including its kitchens, equipment, and will absorb all the company’s employees. Holachef’s founders Saurabh Saxena and Anil Gelra are offered to join Foodpanda’s leadership team.
Launched in 2015, Holachef acts as an aggregator and delivers home-cooked food to the customers in Pune and Mumbai. The company had raised $9.6 million cumulatively till date from the prominent investors include Ratan Tata, Kalaari Capital and India Quotient.
Saurabh Saxena, Co-founder of Holachef said, “Our mission with Holachef is to serve incredible food experiences to customers through kitchens with the highest quality & hygiene standards. We are delighted to join hands with Foodpanda, to accelerate our mission.”
Holachef marks Ola’s second acquisition within a year, which bought Foodpanda’s India business from Germany-based Delivery Hero Group for $31.7 Mn (INR 202 Cr) in December 2017. Notably, to surpass its direct competitor Uber, the cab-hailing company has integrated Foodpanda app in its mobility app, starting with October this year.
In Food delivery segment, Ola-owned Foodpanda also competes with Swiggy and Zomato, both of which are backed by marquee investors and have secured big ticket cheques in the past few months. Most recently, one of its rival Zomato has acquired Bengaluru-based startup TongueStun Food for about $18 Mn in a cash-and-stock deal.