1. Foodpanda India to raise funds to power up its tech, infra, delivery, customer experience: CEO Saurabh Kochhar

Foodpanda India to raise funds to power up its tech, infra, delivery, customer experience: CEO Saurabh Kochhar

Food tech company Foodpanda India, which is in talks to raise fresh round of funds from existing as well as new investors, said on Tuesday that the amount so raised will be invested in building four areas: technology, infrastructure, delivery, and customer experience, which includes pre and post sales.

By: | New Delhi | Updated: August 31, 2016 7:11 AM
foodpanda, foodpanda news, food marketplace, Rocket Internet, Saurabh Kochchar Food tech company Foodpanda India, which is in talks to raise fresh round of funds from existing as well as new investors, said on Tuesday that the amount so raised will be invested in building four areas: technology, infrastructure, delivery, and customer experience, which includes pre and post sales.

Food tech company Foodpanda India, which is in talks to raise fresh round of funds from existing as well as new investors, said on Tuesday that the amount so raised will be invested in building four areas: technology, infrastructure, delivery, and customer experience, which includes pre and post sales.

“While 25% of the fund will be deployed towards further consolidating our technology including revamping the Foodpanda app, another 25-30% will be used to build the infrastructure,” said Saurabh Kochhar, co-founder and CEO of Foodpanda India.

Foodpanda which currently delivers 40% of its orders through its own fleet, plans to take that to 50% by the end of the current fiscal.
In its effort to better consumer experience, the company has introduced a new quality control programme Food Doctor.

Under this, the food tech company through consultants will conduct quality compliance for all restaurants listed on its platform. “We will invest R2-3 crore on the programme until September 2017 which will include the fee paid to consultants, audit cost and training of auditors,” added Kochhar.

The auditors are employees from the hotel and hospitality industry with five years of experience under third party pay roll. While at present the company has roped in 20 auditors it aims to take the number to 100 by September 2017. In the first phase, the Food Doctor Service will be made available to 200 restaurants in Delhi/NCR and over the course of one year the service will cover all 12,000 restaurants listed under its platform. In addition to Food Doctor, Foodpanda has also rolled out initiative such as weekly outreach programme and mystery audits to access the restaurants listed on its platform.

Interestingly, under the programme the company is also helping restaurants to procure kitchen gadgets and tools besides providing access to consultants who would help restaurant owners to revamp their outlets.

Kochhar claims that so far three restaurants owners have revamped their outlets. “If the consultancy part of the programme witnesses a traction, in the future it could be an additional revenue stream.” he explained.
Early this month in an interview to FE, Kochhar had said that the company has witnessed a 30-40% surge in number of orders after March. Till March this year, it had clocked clocked 70,000 orders a day.

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