Hyperlocal Products Delivery Platform, Roadrunnr, has acquired food ordering firm TinyOwl. After this acquisition, it has transitioned into a food ordering and delivery platform and rebranded itself as Runnr. As per the planned transition into an on demand food ordering platform, it will bring you food from restaurants near your location.
The deal size has not been disclosed yet by the either side.
Hyperlocal Products Delivery Platform Roadrunnr was founded in 2015 by Kumar and Arpit Dave who worked together at Flipkart.
Runnr would be a one stop solution to provide delicious cuisines at your doorsteps. With Runnr’s location based services, you can go through and pick from the latest menus of restaurants and live track your order as it reaches you. With no minimum order size and lightening fast delivery, there’s no reason to step out of the comfort of your home.
“Runnr’s strengths lie in technology and efficiency of operations that the company has developed over the last one year. After its acquisition of TinyOwl, the company (Carthero Technologies Pvt Ltd) has decided to reposition itself as a customer centric platform and launched a full integrated app called Runnr which is now available on the iOS and google play store” reported the company.
The app is currently live in South Bombay with over 150 restaurants.
While speaking about the latest development, Mohit Kumar, Co-founder & CEO, mentioned, “We aim to set new benchmarks for food delivery in India. Backed by a strong and integrated team, this application comes with complete order management, easy booking, live order tracking and on demand delivery,”
The company will be charging a flat delivery fee of Rs.30 to the customers irrespective of order value and it will also charge 15-30% commission from merchants.
The food delivery and takeaway market in India was pegged at $12.8 billion in 2014, however the actual penetration level has been only 0.7%, according to a report by Kotak Institutional Equities research.
The report also states that around 27% of the 40 million online shoppers order food online and the takeaway market is four times the delivery market.