SmartQ expects to increase its customer base with this acquisition, while by offloading its cafeteria business, Goodbox wants to focus on its hyperlocal business.
While the government has allowed the companies to keep the buyback value flexible, most companies have settled on Rs 15 per kg for PET bottles, and Rs 5 per kg for shrink wraps.
McDonald’s is committing $5 million to the consortium, bringing the total to $10 million, coming along with the $5 million Starbucks had already committed.
Having entered Hong Kong, Philippines, Malaysia and India in 2017, Eatigo will use the funds to launch in several more markets and extend its product offering.