SoftBank eyes Indian foodtech sector, in talks to invest in Zomato

SoftBank eyes Indian foodtech sector, in...

After reports that SoftBank was in talks with Swiggy, among other investors to invest in the FoodTech major, Economic Times now reports that the Japanese investor is exploratory talks to invest in Swiggy’s rival Zomato.

It was reported in November 2017 that SoftBank was in talks to invest nearly $250 million Swiggy, but no announcement followed yet. ET quotes sources as saying that Swiggy feels like it is still early to get funded from SoftBank.

In the case of Zomato, while talks are still in preliminary stages, SoftBank reportedly discussed business metrics across Zomato’s three main businesses and more specifically around Zomato’s international expansion.

After infusing funds into Ola, Flipkart, Paytm Mall, SoftBank seems to now be eyeing the FoodTech market in India, which has been fast gaining steam over the past year. The industry, which saw investor interest dry up around 2015-16 followed by several startups shutting shop, 2017 has been a turnaround year for the foodtech market.

According to RedSeer consulting, foodtech sector saw a 125% increase in order volumes to reach 4.5 lakh orders per day, which is more than double the numbers it saw in 2016.

The Foodtech market is dominated by Swiggy and Zomato, followed by players such as FoodPanda and UberEATS.

 


PostedOn: 17 May 2018 Total Views: 67




Karnataka CM-elect Kumaraswamy visits Sr...

Karnataka CM-elect Kumaraswamy visits Srirangam te...

Karnataka CM-elect Kumaraswamy visits Srirangam temple, says Congress has promised to support JD(S) for full term Karnataka chief minister-designate H D Kumaraswamy at Sri Ranganathaswamy Temple in Srirangam on Sunday eveni...Read More TRICHY:Karnatakachief minister-designate H D Kumaraswamy said on...

20 May 2018

Amit Shah blames Congress for poor GSDP ...

Amit Shah blames Congress for poor GSDP of NE stat...

Bharatiya Janata Party (BJP) chief Amit Shah on Sunday put the onus of the poor Gross State Domestic Product (GSDP) of north-eastern states on the Congress. He said that NDA government at the Centre always acknowledged the contribution of the North East. Addressing the third conclave of the North Ea...

20 May 2018

Pawan Kalyan kicks off state-wide tour i...

Pawan Kalyan kicks off state-wide tour in Srikakul...

Actor-politician Pawan Kalyanon Sundaybegan his 45-day tour across Andhra Pradesh, starting from Ichchapuram town in Srikakulam districton Sunday. Pawan beganthe day with special prayers by offering a 'Gangamma puja' at Kapaskuddi before he travelled to the town with a convoy of cars. After offering...

20 May 2018

The man who checkmated Amit Shah in Karn...

The man who checkmated Amit Shah in Karnataka

The name of Doddalahalli Kempegowda Shivakumar is met with fear and awe in Karnataka in equal measure. The Congress’s master strategist, Vokkaliga strongman and former state Energy Minister will go down in history not only for engineering the loss of the Bharatiya Janata Party in the political...

20 May 2018

YS Jagan Mourns DA Somayajulu’s Death

YS Jagan Mourns DA Somayajulu’s Death

YSR Congress Party President and Leader of Opposition in Andhra Pradesh assembly YS Jagan Mohan Reddy mourned the death of YSRCP political affairs committee member DA Somayajulu. The YSRCP senior leader breathed his last around 3.14 am on Sunday. He was 64. He had been suffering from prolonged illne...

20 May 2018

'The conclusion of karnataka 's CM Majes...

'The conclusion of karnataka 's CM Majestic power ...

Karnataka CM heads to the Governor's house to submit his resignation Congress and JD(S) MLAs after BSY quits as CM Bengaluru: Congress' DK Shivkumar, JD(S)'s HD Kumaraswamy & other MLAs at Vidhana Soudha after resignation of BJP's BS Yeddyurappa as Chief Minister of Karnataka. pic.twitter.com/wZ...

19 May 2018

Karnataka floor test live updates: Victo...

Karnataka floor test live updates: Victory of demo...

BS Yeddyurappa has resigned as the chief minister of Karnataka without facing trust vote in assembly. After announcing his resignation, BS Yeddyurappa walks out of the Karnataka legislative assembly

19 May 2018

Karnataka floor test updates: BS Yeddyur...

Karnataka floor test updates: BS Yeddyurappa resig...

HIGHLIGHTS The week-long intense drama on government formation in Karnataka finally reached the floor of state Vidahan Soudha on Saturday where the newly-elected MLAs from BJP, Congress and the JD(S) arrived for the trial of strength of the three-day old BS Yeddyurappa’s government. Karnataka ...

19 May 2018