India’s food delivery platforms Zomato has announced the acquisition of Uber Eats India for approximately $206 million. The acquisition of Uber’s food delivery business in India strengthens the Zomato’s food delivery business in country.
After this deal, the combined entity of Zomato and Uber Eats India command close to a 55% market share in the food delivery segment. The Bengaluru-based firm had recently raised $113 million in Series I round led by Naspers, Meituan and Wellington Management
In January 2020, Zomato had raised $50 million in fresh funding from Ant Financial Singapore Holding. The latest funding is a part of the food delivery firm’s Series J financing round. With this funding, Zomato’s total fund tally stands close to $850 million. In January 2020, Zomato also partnered with McDonald’s India for food delivery in the Northern, Eastern region of the country. The partnership expands the availability and accessibility of McDelivery for the Northern and Eastern region. McDonald’s customers in North and East India, after this deal will be able to order food items on Zomato and get it delivered to their doorsteps. The delivery service will be available through nearly 125 McDonald’s restaurants in the region.
Zomato is one of India’s leading online food delivery platforms, headquartered in Gurugram, India. The company was launched in 2008 and has grown to one of the largest food aggregators in the world. The company provides in-depth information about restaurants, restaurant reviews, food delivery and dining out details of nearly 1.5 million restaurants across 24 countries of the world.