Indian online transportation company Ola has bought Foodpanda India from its German parent Delivery Hero group in a stock deal pegged at about $40 million in a bid to re-enter a resurgent food delivery market.

Investing $ 200 million in Foodpanda India

SoftBank-supported Ola will likewise put $200 million in Foodpanda India as it goes up against match UberEATS and officeholders Zomato and Swiggy in a standout amongst the most-pined for and high-recurrence purchaser advertises in India.

Foodpanda India handles around 30,000 requests every day in around 150 urban communities, and UberEATS India around 10,000 requests per day in seven urban communities, as indicated by examiners, which would give Ola a high ground over its essential opponent.

Swiggy’s Investment

This year, advertise pioneer Swiggy has contributed forcefully to keep up its lead, while Zomato and Foodpanda experienced a tidy up increasing critical development in incomes and request volumes while constraining their pace of misfortunes.

Ola’s Sizeable Entry in Food Delivery Space

Analysts expect that Ola’s $200-million infusion into Foodpanda India will give the taxi aggregator a sizeable entry in the food delivery space this time around.