Several restaurants are now backing out from food tech and hyperlocal delivery platforms such as Swiggy and Shadowfax due to high commissions and patchy delivery services. While some restaurateurs said high commission fee of up to 25% on the price of an order charged by delivery platforms has mad…
Tag: Swiggy
US based Bessemer Venture Partners to invest Rs 80 crore in food-delivery co. Swiggy
US-based venture capital firm Bessemer Venture Partners is in advanced talks to invest around Rs 80 crore or $12 million in food-delivery company Swiggy, according to two people aware of the negotiations. The deal, if it concludes, will value the Bengaluru-based company at around $200 million (Rs…
I foresee a lot of automation & intelligence coming out of cloud telephony use-cases | S Ganesan, CEO & Co-Founder, Exotel
In this growing era of development, Cloud telephony is poised to change the way businesses look at customer communications.Cloud telephony refers specifically to voice services where they deliver scalability and reliability, allowing businesses to communicate better with their customers and vendo…
Swiggy raises Rs 47 crore from Norwest venture partners, DST global and Accel partners
Swiggy has raised an additional Rs 47 crore from existing investors Norwest Venture Partners, DST Global and Accel Partners, valuing the online foodordering startup at over Rs 865 crore or $130 million, filings with the registrar of companies show. The new round of funding gives the startup addit…
Delivery startups explore additional income streams
With investors turning increasingly cautious, hyperlocal delivery start-ups are exploring additional revenue streams such as advertisements and promotions to try and mitigate the impact of losses incurred by their core offerings. Shadowfax Technologies Pvt. Ltd and Opinio (Moonshots Internet Pvt.…
Zomato to stop charging from restaurants
A week after breaking even in six markets across the globe, online restaurant search, rating and food ordering company Zomato wants to stop charging commission from restaurants covered by it, Co-Founder Pankaj Chaddah has said. This would apply to orders generated from the platform as well as for…
AskMe Grocery looks to expand operations to 70 cities
Although the food tech sector is grappling with slowing sales and high attrition, hyperlocal AskMe Grocery is looking to scale up. Ankit Jain, founder, AskMe said that the firm proposes to expand operations from 35 cities to 70 cities by March, 2016. “Expanding the business in tier II and tier II…