Ola acquires Foodpanda to re-enter food delivery biz, takes on Uber Eats

India’s largest ride-hailing firm, Ola, has re-entered the online food-ordering and delivery business by acquiring Foodpanda’s India unit as it gears up to take on Uber Eats of global rival Uber and local outfits such as Swiggy and Zomato.

SoftBank-backed Ola is planning to invest $200 million (approximately Rs 1,300 crore) in Foodpanda India as it is looking to engage millions of users more often on its platform.

Ola had exited the on-demand food-ordering space in May last year, when it closed down its pilot, Ola Café. 

Rocket Internet-backed Delivery Hero, which owns Foodpanda globally, will get a minority stake