Online food ordering and delivery platform Foodpanda said Tuesday it has acquired Mumbai-based food-tech venture Holachef.
Through this collaboration, Foodpanda marks its entry into cloud kitchens and plans to launch its own brand of food products in different categories, it said.
The company, however, did not disclose any financial details of the acquisition.
Commenting on the development, Foodpanda India CEO Pranay Jivrajka said: "We aim to build India's largest cloud kitchen network that will be a major step in further elevating the food experience for our customers."
The company is committed to providing unique local tastes and palate choices to the Indian consumer, he added.
As part of the acquisition, Foodpanda will take over Holachef's business including its kitchens, equipment, as well as bring onboard the company's employees. Holachef's founders are set to join Foodpanda's leadership team, the statement said.
"Our mission with Holachef is to serve incredible food experiences to customers through kitchens with the highest quality and hygiene standards. We are delighted to join hands with Foodpanda, to accelerate our mission," Holachef Co-founder Saurabh Saxena said.
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