FoodPanda, an online food delivery platform, has acquired India-based competitor TastyKhana for Rs 1.2bn ($19.4m), providing an exit to another rival, Delivery Hero, Hindu Business Online has reported.
Germany-based Delivery Hero invested $5m in TastyKhana in June 2013. TastyKhana will continue as an independent brand, but will partner with FoodPanda to jointly cover around 10,000 restaurants across 173 cities in India.
Ralf Wenzel, co-founder and managing director of Foodpanda, said: “Combined with our efforts in other important markets such as Russia, Brazil and Southeast Asia, where we already gained a leading position, we are best positioned to accelerate growth and become the Amazon of food ordering in emerging markets.”
Foodpanda, which was launched by incubator and venture firm Rocket Internet, raised $60m in series D funding in August.