How the food business was in April- Fund raising and M&A
How the food business was in April- Fund raising and M&A

Food business in India is estimated to grow to Rs 5.05 lakh crore by 2020 at a compounded annual growth rate of 11 per cent year on year. And with such big growth waiting ahead in the market, the industry has seen companies like Zomato, foodpanda, SpoonJoy, Grab, Indulge Beverages, Dazo and Hokey Pokey amongst others raising funds to expand services in the ever-growing food market in India.

Zomato, the online restaurant search engine, which has entered over 14 countries globally, has recently raised $50 million from info edge and has entered among the 16 global companies that have entered the $1-billion valuation league this year. With the series F round of funding, the restaurant discovery platform has become one of the largest players in the segment with an announcement of entering into the food delivery space ….more.


foodpanda, the global mobile food delivery marketplace has raised $100 miilion in a new financing round led by Goldman Sachs. foodpanda, together with its affiliated brands, focuses on emerging markets, operating in 40 countries across five continents and market leading in 32, among them India and Russia. foodpanda is active in over 580 cities around the world, operating in 12 of the largest 20 metropolises, and partnering with over 60,000 restaurants…more.

SpoonJoy, Bengaluru-based weekly subscription-based online platform that delivers healthy and delicious meals right at customer’s doorsteps, has raised $1 million from SAIF Partners. The funds will be used to expand its services to Delhi-NCR and Mumbai...more

Grab, Mumbai-based food delivery start-up has rasied $1 million from Oliphans Capital and Haresh Chawla (former CEO of Network 18). This round of funding will enable Grab to expand in markets such as Pune, Delhi, Chennai and Bengaluru ...more

Dazo, India’s first and largest curated meal marketplace has raised an undisclosed amount from some of the country’s most respected industry veterans including CommonFloor and TaxiForSure.  The group has also rebranded itself as Dazo, earlier called as Tapcibo...more

The figure shows the deals cracked in the month of April

EazyDiner, founded by food critic and journalist Vir Sanghvi has also raised a seed funding of undisclosed amount from early age investors DSG Consumer Partners and Gulpreet Kohli, former MD of PE firm Chryscapital...more

Drums Food International, owner of the Hokey Pokey brand of ice cream, announced that the company has closed additional financing of Rs 5 crore led by Vish Narain, Country Head at TPG Growth, and Fireside Ventures, a private investment firm floated by former Helion Ventures MD Kanwaljit Singh. The group will use the raised amount to expand the company’s production capacity, and introduce its 2nd product, Epigamia, India’s first-ever range of Greek Yogurt...more

In a deft move to capture the nascent but high potential premium beverage market, industry stalwarts, Kanwaljit Singh (Ex Co Founder and Senior Managing Director, Helion Venture Partners), Shripad Nadkarni (Director, MarketGate Consulting) and Sarvesh Shahra (Business Head, Foods, Ruchi Soya Industries) have invested $2 million in upcoming beverage start-up, Indulge Beverages...more

On the other hand, there are many deals that have been on ground of merger and acquisition, FKS owned by Khalil Ahmed, former promoter of Shantha Biotechnics (now owned by Sanofi), has acquired Hyderabad House famous for its Biryani and Kebabs, Hello Curry, Hyderabad-based Indian QSR delivery service has acquired its rival Paratha Post, Zomato has acquired NexTable and MaplePOS.

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