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News on Medial
Kitchens@ raises PE funding; Ola to enter grocery delivery business
VCCircle
·
1y ago
Medial
Kitchens@, a cloud kitchen startup owned by Loyal Hospitality, has secured funding from private equity firm Finnest as part of its Series C funding round. Finnest acquired a majority stake in Kitchens@ by investing INR 1,335 crore ($160 million). This investment will help Kitchens@ expand its operations and strengthen its presence in the cloud kitchens market. In other news, ride-hailing company Ola is reportedly set to enter the grocery delivery business, aiming to compete with established players like Amazon and Flipkart.
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Related News
Ola Cabs launches loyalty programme,
YourStory
·
11m ago
Medial
Ola Cabs has introduced a loyalty program called Ola Coin and relaunched its ride-sharing service on its platform in an effort to boost its cab business amidst competition. The company also plans to focus on commerce and consumer services and has rebranded as Ola Consumer. Ola Coin will reward users for transactions made on the Ola platform. Additionally, Ola Consumer aims to establish tech-enabled warehouses and fulfillment centers to streamline logistics operations. The company also plans to expand its Ola food and grocery delivery service, ONDC, and introduce more categories.
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Ghost Kitchens India, a cloud kitchen startup, raises $5M in a Series A round
IndianStartupNews
·
1y ago
Medial
Ghost Kitchens India, a cloud kitchen startup, has secured $5 million in a Series A funding round. Led by Gujarat Venture Finance Limited, the round also saw participation from NB Ventures, LetsVenture, Lead Angels, and existing investors. Ghost Kitchens operates popular brands like Khichdi Paradise and Bhayankar Burgers, serving customers across Mumbai, Ahmedabad, and other Indian cities. The startup provides a plug-and-play food delivery concept within existing setups to boost revenue and profits for restaurants and cloud kitchens. With the new funding, Ghost Kitchens plans to open 25 quick-service restaurants with dine-in facilities.
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Hyperlocal grocery store startup Dusminute raises Rs 11.5Cr from IPV
IndianStartupNews
·
2y ago
Medial
DusMinute, a hyperlocal grocery store startup, secured 11.5 cr from IPV (Inflection Point Ventures). The funding will be used to fuel DusMinute's expansion plans and strengthen its presence in the hyperlocal grocery delivery market. With IPV's support, the startup aims to further enhance its technology and services, catering to the increasing demand for convenient and efficient grocery shopping.
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Quick commerce boom: A look at top developments in rapid delivery space
Economic Times
·
11m ago
Medial
Several major players are planning to enter the quick commerce segment in India. Amazon India is set to launch its offering in early 2022 and is considering buying a stake in Swiggy's Instamart. BigBasket is pivoting to become a full-scale quick commerce platform, offering rapid deliveries. Swiggy has appointed a new CEO for Instamart and Bollywood superstar Amitabh Bachchan's family office has acquired a small stake in the company. Flipkart has introduced a quick delivery service called Minutes, while Zepto is looking to raise $310 million in funding. Ola is also planning to enter the dark stores space for quick commerce, and logistics companies like Ecom Express, Shadowfax, and Loadshare are venturing into the quick delivery business.
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Ola To Launch Grocery Delivery Soon
Inc42
·
1y ago
Medial
Ola Mobility, led by Bhavish Aggarwal, is planning to introduce grocery delivery in the coming days. Ola is currently the second largest buyer-side platform in the food category, processing thousands of food orders daily. This new venture will involve competition with players such as Pai Platforms, Swiggy's Instamart, and Blinkit.
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Ghost Kitchens India raises $5 million for expansion
Livemint
·
1y ago
Medial
Mumbai-based food-tech platform Ghost Kitchens India has raised $5m in a Series A funding round led by GVFL Limited. The company, which creates and runs cloud kitchens, plans to use the funds to scale its operations and expand its network of cloud kitchens and quick-service restaurant outlets. Ghost Kitchens India currently owns around 15 cloud kitchens in Mumbai and Ahmedabad, and its technology is used by 150 restaurant companies in 40 cities. The company also aims to launch retail stores for celebrity brands through its recent acquisition of SpeakBurgers.
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Now, JioMart Plans Quick Commerce Foray To Take On Blinkit, Swiggy Instamart, Zepto
Inc42
·
1y ago
Medial
Reliance Industries Ltd (RIL) is planning to enter the quick commerce segment to compete with companies like Blinkit, BigBasket, Swiggy Instamart, and Zepto. JioMart, the digital commerce arm of RIL's subsidiary Reliance Retail, is expected to start offering grocery delivery in select cities within 30 minutes, starting next month.
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Zepto to launch standalone app for 10-minute food delivery service
Economic Times
·
8m ago
Medial
Quick commerce platform Zepto is planning to launch a separate app for its 10-minute food delivery service, Zepto Cafe. The company is rapidly expanding its cafe business, with a goal of achieving an annual revenue run rate of Rs 1,000 crore. Zepto's rival, Swiggy, has also introduced a similar 10-minute food delivery service called Bolt. Additionally, another Bengaluru-based startup, Swish, offers speedy food delivery and operates cloud kitchens in specific areas. Zepto recently raised $350 million in funding and aims to provide fast and convenient food delivery services.
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Food-delivery startup Swish raises $2 million in maiden round led by VC firm Accel
Economic Times
·
8m ago
Medial
Bengaluru-based 10-minute food delivery startup, Swish, has secured $2 million in its first funding round, led by venture capital firm Accel. The funds will be used for expanding operations and scaling the delivery model across Bengaluru and other tier-1 cities. Swish focuses on delivering freshly prepared food within 10 minutes, catering to busy professionals and their immediate cravings. The company aims to open 150-200 cloud kitchens in the next six to eight months to meet the growing demand for quick food delivery.
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Write-offs, Uber onslaught complicate Ola’s profitability
The Arc Web
·
1y ago
Medial
Ola, the ride-hailing company, incurred losses of Rs 1,082 crore in FY23, driven by write-offs in its used cars, food delivery, and grocery businesses, as well as attempts to protect market share from Uber. The food delivery subsidiary experienced a significant drop in revenue, while the cab-leasing and grocery units also suffered losses. In comparison, Uber's losses in India rose by 57% to Rs 311 crore. Ola's ride-hailing sales increased by 63% to Rs 1,987 crore, but Uber is narrowing the sales gap.
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