Billion-dollar food delivery startup Deliveroo to launch in India

London-based food delivery firm Deliveroo is planning to launch in India by this year-end.

According to sources close to the matter, Deliveroo has already started the process to build a team in the country, said sources aware of the development. The company has been looking for executives to head operations in India, reports Times of India.

Deliveroo has begun the hiring process in India.

Deliveroo, which is valued at $2 billion, is one of the best funded startups globally. It was founded by former investment banker Will Shu in 2013. Deliveroo operates in 140 cities across 13 countries in Asia-Pacific, Europe and the Middle East. In Asia, Deliveroo operates in Hong Kong, Singapore and the UAE. It is backed by Fidelity and T Rowe Price, among a host of investors.

Recently, Uber's local rival Ola also re-entered the crowded category by acquiring Foodpanda from Delivery Hero just recently.

Queries sent to Deliveroo by Entrackr did not elicit a response till the time of publication of this report.

Deliveroo will have tough time competing with deep-pocketed established domestic players. Last month, Ola re-entered food delivery space with the acquisition of Foodpanda India from the parent firm Berlin-based food delivery marketplace Delivery Hero Group.

Once launched, it will have to fight bigger rivals like Zomato and Swiggy in the domestic market along with UberEats and Foodpanda. There have also been merger talks between Zomato and Swiggy. Till it happens, the food delivery space seems to be warming up for fierce competition.