Foodpanda has acquired Mumbai-based foodtech startup Holachef Hospitality Pvt. Ltd, which had shut down operations in July-August this year, for an undisclosed amount.
With this acquisition, Foodpanda will foray into cloud kitchens and also plans to launch its own food brand across categories. The company claims to have a network of over 1 lakh delivery partners and access to over 150 million customers.
The acquisition however is believed to bring no returns to the investors of Holachef, which include InnoVen Capital, Kalaari Capital, India Quotient, SIDBI Venture Capital and Ratan Tata.
Foodpanda will take over Holachef’s employees and kitchen equipments. Founders of Holachef will join the leadership team at Foodpanda.