While reduced competition in India's food-tech space has led to returning sensibilities in terms of discounting, players such as Swiggy, Zomato and FoodPanda still have some way to go before they can turn profitable.
The platform plans to utilize the funds for hiring engineering talent and develop deeper technology for better prediction of demand, consumer preferences and improving delivery efficiencies
The technology company says it will provide the real estate, build the kitchen and supply all the equipment restaurants will need to just "walk in" and start doing business.
Tapzo, the app only services and content platform has integrated Swiggy, Zomato, Freshmenu and Faasos on its portal in order to give its customers the choice of ordering from multiple food players.
Backed by two decades of experience in the start-up ecosystem, Bansal brings immense expertise in establishing strong leadership teams and scaling up an organisation through rapid growth.
Foodpanda also held initial talks with Swiggy but the pact is yet to be signed by both the firm, confirming the partnership, sources close to the development revealed.