Innovation and Technology - Pillars For Growth Of Food Tech Industry

Headquartered in Berlin, Germany, Foodpanda offers the convenience to order food online and enables restaurants to become visible in the online & mobile world. It also provides them with software and technology to generate additional demand.

- Saurabh Kochhar

Food Tech: Moving towards profitability

Food tech segment has seen a rapid growth; online platforms and boom in e-commerce made everything, information readily available anywhere and anytime. The trend of online shopping that we earlier saw for books, fashion, furniture and electronics has now caught up with food delivery and aggregation business. The online food tech segment has seen a boom in last few years with many online players coming up with different and fresh business ideas and technologies in food listing, food aggregation as well as food delivery segment. While the industry has questioned the future of food tech in India and called it a bubble that is about to burst, I personally feel otherwise.

According to a Bloomberg report, more than 400 food delivery apps cropped up in India in the past three years, raising approximately 120 billion USD. Many companies simultaneously mushroomed and introduced innovative services and processes to bring restaurant discovery and delivery online. The industry has seen it all; from small and big players competing and eating into each other’s share of pie, launching new innovative services for consumers to funds drying out, devaluation and companies scaling and shutting down operations.F

Shake ups vs Consolidation – Part of the Inevitable Process