UK firm acquires majority stake in Bangalore startup
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Bangalore: Indian foodville gets a UK hang. Hungry Zone, an online food ordering and restaurant table reservation platform, has ventured into a tie-up with Just-Eat, UK's online takeaway ordering service. Under the deal, Just-Eat has acquired 60 percent shares in the company and it will invest $ 5-10 million over the next three years into this Joint Venture. Founded in July 2006 and headquartered in Bangalore, India, Hungry Zone enables its customers to place online home delivery orders from over 650 restaurants serving over 40 different cuisines. "Currently, we have two lakh customers and the current tie-up will help us expand our footprint in other major cities," says Ritesh Dwivedy, Founder and CEO of Hungry Zone. This deal is the first major investment of its kind where European e-commerce has invested in India and will provide a strong foundation for the Joint venture to expand into all Indian metropolitan and metropolis cities starting with Mumbai and Delhi shortly. The Just-Eat Group operates in the UK, Denmark, Sweden, Belgium, Spain, Netherlands, Ireland, Norway, Canada and India. Klaus Randel Nyengaard, Group CEO, Just-Eat said, "The acquisition of a controlling interest in Hungry Zone marks the first step of Just-Eat's expansion into Asia. The synergy between the two companies is compelling and we're very excited to be working with such a strong local team. India has an exotic and rich culinary heritage; thereby catering to the variant foodies requires an innovative company like Hungry Zone to understand their preferences and I'm very impressed with their results to date."

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