Other people moves from the last month include a new chief marketing officer for Grabango and a new role for Upstream Ag’s founder.
Led by Swiggy, Restaurant Marketplaces raised $1.95 billion in FY22, scooping up the most funding of any agrifoodtech category.
The ghost kitchen service is part of PepsiCo Foodservice Digital Lab, which helps restaurants start delivery-only formats, among other things.
From old timers with mega deals to up-and-comers just entering the space, here are the ghost kitchen startups leading the pack of a growing if somewhat controversial segment of the food industry.
Upstream and downstream investment in Europe agrifoodtech were almost on par with one another last year, though upstream closed more deals.
Consumer-facing downstrream technologies bagged $32 billion in VC investment in 2021; the bulk of it was thanks to a few big eGrocery deals.
CEO Anthony Tan said the company will invest part of the proceeds into mapping tech in order to “deliver groceries more efficiently.”
Zomato, which competes for the mantle of India’s top food delivery app with rival Swiggy, is reportedly valued at $12.2 billion post-IPO.
Uber is set to announce its Q1 results this week as it continues the hunt for profitability by focusing on its core businesses: transport and food delivery.
Zomato, which was founded in 2008, has raised a total of $2.1 billion to date from the likes of Ant Financial, Temasek, and Sequoia Capital.
The Singapore-based app claims to be the category leader for online food delivery, ride-hailing, and digital payments in Southeast Asia.
The proposed deal would value Grab at around $35 billion and could complete as soon as this week, according to people familiar with the matter.
Swiggy also secured investment from sovereign wealth funds Qatar Investment Authority and Singapore’s GIC, according to an internal memo.
The Spanish ‘q-commerce’ app delivers takeout meals, groceries, and other items on demand to more than 10 million users across 20 European countries.
The UK-based food delivery app saw its share price nosedive by as much as 30% during its first day of trading on the London Stock Exchange yesterday.
The UK food delivery app also said it will pay its self-employed drivers IPO bonuses of up to $13,827 each.
Like many of its peers, the Finnish food delivery app has diversified into groceries and other goods during the Covid-19 pandemic.
Spain’s Glovo and Turkey’s Getir are both targeting the boom in demand for so-called ‘q-commerce’ – ultra-quick, 30-minute-max delivery of groceries purchased online.
The UK app said it’ll use the capital to grow its ‘dark kitchen’ network and grocery delivery business, confirming its IPO plans publicly for the first time.
The Singapore-based app expects GrabFood to hit breakeven by the end of 2021 – with or without prospective merger partner Gojek, which has reportedly opened talks with e-commerce giant Tokopedia.
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