2014-11-14

Mumbai-based incubator Ant Farm buys Meals on Wheels for $2 million

With this acquisition, Ant Farm plans to get into the local food delivery business in India

Mumbai-based incubator Ant Farm buys Meals on Wheels for $2 million

Ant Farm, a Mumbai-based hybrid start-up incubation platform, has announced acquisition of city-based online food delivery venture Meals on Wheels in a stock-and-cash deal worth Rs 11-15 crore, says a VCCircle report.

With this acquisition, Ant Farm plans to get into the local food delivery business in India.

“Essential services like delivery are increasingly becoming important for the time-strapped consumer in metropolitan India. Meals on Wheels already has successful partnerships, an active user base, and a critical mass of orders-per-day,” Rishi Khiani, MD & CEO, Ant Farm told VCCircle.

Post acquisition, Ant Farm has appointed Sandeep Das as the CEO of Meals on Wheels. Das is the former COO and head of business at Burrp and AskMe.

“Although there are companies like Foodpanda, and Tastykhana in the market, Meals On Wheels’ business is completely different. These companies are just aggregators, whereas we provide logistics and last-mile delivery to our consumers,” Das told VCCircle.

The report further mentions that Meals On Wheels is looking to double its gross merchandise value (GMV) this year from the last year's GMV of Rs 4 crore.

Founded in 1997 by Sunil Saraf, currently MD at Butlerbhai Services Pvt Ltd, Meals on Wheels provides delivery from popular restaurants in south Mumbai, with a serviceable area from Cuffe Parade to Worli.

Post-acquisition, Saraf will take on a senior management role in the growth and expansion of the business.

Related opportunities
  • Beauty Salons
    WELCOME TO HAIR & BYOND Situated in Koramangala near Forum Mall..
    Locations looking for expansion Karnataka
    Establishment year 2015
    Franchising Launch Date 2024
    Investment size Rs. 10lakh - 20lakh
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Bangalore Karnataka
  • Others Food Service
    SMGU HANDMADE MASALE, It is one of the famous brands in..
    Locations looking for expansion Maharashtra
    Establishment year 2017
    Franchising Launch Date 2020
    Investment size Rs. 30lakh - 50lakh
    Space required 150
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Haveli Maharashtra
  • Cosmetics & Beauty Product Stores
    RENÉE Cosmetics is an Indian makeup brand that's redefining beauty..
    Locations looking for expansion Gujarat
    Establishment year 2019
    Franchising Launch Date 2023
    Investment size Rs. 10lakh - 20lakh
    Space required 400
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Ahmedabad Gujarat
  • Healthcare Products
    Hairpro 16 is created using handpicked Ayurvedic Herbs and virgin..
    Locations looking for expansion Tamil nadu
    Establishment year 2023
    Franchising Launch Date 2024
    Investment size Rs. 5lakh - 10lakh
    Space required 300
    Franchise Outlets -NA-
    Franchise Type Unit
    Headquater Chinglepet Tamil nadu
Insta-Subscribe to
The Franchising World
Magazine
tfw-80x109
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
email
mobile
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities

Free Advice - Ask Our Experts

pincode
;
ads ads ads ads