Food delivery startups Swiggy and Zomato are scouting for acquisitions. While Zomato announced the purchase of drone startup TechEagle, Naspers-backed Swiggy is in early talks with several companies for possible buyouts.
Faasos, which closed a USD 30 million round last month, is looking to raise an additional USD 100 million to become the “largest restaurant company in the world,” said Rebel Foods Ltd, that owns the brand Faasos, chief executive Jaydeep Barman.
Online food ordering startup Foodvista India Pvt. Ltd, which operates FreshMenu, and counts Lightspeed Venture Partners and Zodius Capital as its investors, is in talks to raise USD 25-30 million from new and existing investors, Mint reported in August.