Walmart-Flipkart deal set to boost infrastructure in India’s food market

INDIA - The proposed Walmart-Flipkart combine plans to make an aggressive play in the food sector with a substantial chunk of the Bentonville retailer’s investment in the Indian market place being earmarked to build back-end food and grocery infrastructure in a bid to gain pole position in India’s online and offline food retail markets. Walmart…

Carrefour acquires majority stake in French meal delivery company

FRANCE - Carrefour, one of the largest hypermarket chains in the world, has announced that it has acquired a majority stake in the Paris-based ecommerce start-up, Quitoque. The acquisition of the leader of meal kit deliveries, and one of the French pioneers in food technology is part of a strategy to add strength to its…

Walmart’s expands online same-day grocery into more US households

INDIA - Walmart is expanding its same-day online grocery delivery service to more than 40 percent of U.S. households, or 100 metro areas, by year-end as it tries to keep pace with online leader Amazon.com The service is currently available in six markets. Tom Ward, vice president of Walmart's digital operations, says the retail giant is powering the expansion…

India’s online grocery retailer Grofers receives US$60m funding

INDIA - SoftBank is leading a Rs 400-crore (US$61.6 million) financing round in online grocery startup Grofers, taking its shareholding up to as much as 35-40% in the four-year-old company. Tiger Global, the New York-based fund which is also an existing investor, has participated in the fund-raise along with Russian tech billionaire Yuri Milner. SoftBank…

India’s eateries to hire food safety officer, e-commerce to get FSSAI licences

INDIA - The food regulator has drafted regulations for restaurants and eateries, requiring them to employ a food safety officer in order to obtain a licence. The Food Safety & Standards Authority of India also made it mandatory for companies that sell food online to get separate licences under the Food Safety & Standards (Licensing…

India’s grocery micro-delivery company receives US$2.2 million seed investment

INDIA - Doodhwala, a micro delivery service for fresh groceries, said it has received a seed investment of $2.2 million by Omnivore, a venture capitalist firm, for a minority stake in the company. The new financing will go towards expanding Doodhwala's service into new markets, funding talent acquisition and upgrading technology, the company said in…

Taxi app acquires online restaurant listing platform, to trial food delivery

UAE - Dubai-based ride-hailing app Careem said on Sunday it had acquired RoundMenu and would start trialling food delivery services through the restaurant listing and reservation online platform this month. The company, which has operations in more than 90 cities across 13 countries. acquired the website and app for an undisclosed sum, and “will begin…

Alibaba leads $300 million funding for Indian online grocer Bigbasket

INDIA - Alibaba Group Holding Ltd led a $300 million investment into India’s biggest online grocer Bigbasket, signalling that the region’s segment is firing up. Hari Menon, Bigbasket’s co-founder and chief executive officer, said the investment values the company at $950 million—just $50 million under the $1 billion valuation that would have earned it tech…

Morgan Stanley values Indian food delivery company Zomato at US$2.5 billion

INDIA - Wall Street giant Morgan Stanley’s research unit has pegged Zomato’s valuation at $2.5 billion in a report released Thursday. This is almost three times its valuation from its last funding round. The coverage on Zomato by the international brokerage firm was done while taking stock of the startup's publicly traded shareholder InfoEdge, which…