Online food portal Justeat.in has sold a minority stake in the company to private equity firm Forum Synergies and Axon Capital, a Spanish PE firm.
UK based Just Eat Holdings, which holds a majority stake in Justeat.in has sold part of its stake to bring in new investors.
The company is on track to earn Rs 50 cr revenues in 2015, according to its founder Ritesh Dwivedy, an IIT Kharagpur graduate who runs Justeat.in.
It’s been less than a month since restaurat search and listing service Zomato raised $37 mn from Sequoia Capital & Info Edge at a Rs 1000 cr valuation. Recently, search and listing company Just Dial also entered the space.
Looks like the beginning of another investor rush in India after e-commerce. The market opportunity comes from a classic combination of India’s consumption story and the ability of technology to address that demand more efficiently.
Dwivedy who used to run HungryBangalore.com sold a majority stake to Justeat. Here’s his startup journey.