Hyperlocal delivery start-up
Roadrunnr has acquired Food Ordering firm TinyOwl Technology Pvt. Ltd and has
transitioned into a food ordering and delivery platform. It has also rebranded
itself is Runnr.
After its acquisition of TinyOwl,
the company 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. Roadrunnr and TinyOwl have common investors in Sequoia
Capital and Nexus Venture Partners.
Runnr food ordering app is
currently live in South Mumbai with over 150 Restaurants. There is no minimum
order size and the app offers live tracking of delivery. Roadrunnr may exit the
business of delivering products for e-commerce companies and focus on a few
select categories such as food, groceries and merchant-to-merchant or first
mile deliveries.
The food delivery and takeaway market
in India was pegged at $12.8 Million in 2014, however the actual penetration
level has been only 0.7%. Around 27% of the 40 Million online shoppers order
food online and the takeaway market is four times the delivery market.
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