Foodtech has turned out to be an opportunity that no one wants to miss. Be it Kishore Biyani’s Future Group, shuttle service Shuttle or OYO. They all aspired to get a pie of fledgeling food delivery segment that is set to grow up to $29 billion by 2021.
To strengthen its aspiration in the segment. OYO is currently in advanced talk to acquire Bengaluru-based cloud kitchen – Freshmenu. Meanwhile, in a surprising move, OYO has opened over 20 cloud kitchens in Gurugram and Bengaluru to deepen its foodtech play.
Currently, these cloud kitchens are leveraging Swiggy, Zomato and UberEats to rake in orders. OYO’s full-fledged aspiration in foodtech (except delivery) via cloud kitchens has come at a time when it’s finalising FreshMenu’s acquisition in about $60 million. It eyes a larger reach through the Lightspeed-backed firm.
