FOOD SERVICES | Staff Reporter, India

Ola to acquire Foodpanda India in food delivery push

It is seeking to fend off Uber Eats in the country.

According to Nikkei Asian Review, Ola will invest $200 million in Foodpanda as part of the deal.

Both Ola and Uber are locked in a high-stakes battle for leadership in India's fast-growing cab-hailing market. In their quest to grab market share, both the companies have been diversifying into a number of new businesses including e-wallets, car-pooling, and two-wheeler rides.

This is Ola's second attempt to enter the food delivery market in India.

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