UK based online food delivery startup valued at $ 2 billion is set to launch its operations in India by next year, as reported by The Economic Times.
Deliveroo is one of Europe’s well-funded start-ups and is in the process of bringing on board a full-fledged team in India along with its separate country head, as reported by ET.
A person aware of the development told ET, “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.”
The start-up is backed by strong investors like Fidelity and T Rowe Price, among others, but the main challenge for the start-up will be to compete with the well-heeled domestic players like Swiggy and Zomato, all of who have a good capital girth and are familiar with the local market. And with recent entries like UberEats and its segment rival Ola’s recent purchase of Foodpanda, there are four strong local incumbents for Deliveroo.
Founded in 2013 by former investment banker Will Shu, Deliveroo operates in 140 cities across 13 countries in Asia-Pacific, Europe and the Middle East with its HQ in London. In Asia, Deliveroo operates in Hong Kong, Singapore and the UAE.
