Founder and Ex-CEO of JustEat India, Ritesh Dwivedy has launched his all new online quick-service restaurant called Petoo, after his former startup got acquired by its rival FoodPanda a few months ago.
Petoo was launched in March 2015 by Abhishek Mandal, Ritesh Dwivedy and Kumar Setu. Presently, the startup is functional only in Bengaluru. It is bootstrapped and is looking out to raise a sum of $5-10 million. The startup plans to expand its services to eleven locations in Bengaluru by the end of June, and later on, covering the entire city by the end of this year. It is also looking to increase its manpower from the current 35 to 100 people.
“We want to cover all the key localities in the city first before embarking on an expansive marketing drive. That is when the traffic on our site and app will increase,” said Ritesh Dwivedy, Founder, Petoo.
The startup gets maximum number of daily offers from online restaurant aggregator websites like TinyOwl, Swiggy, Foodpanda & JustEat. Its Android app will soon be rolled out. The restaurant currently operates from one central kitchen in Bengaluru, as reported by indianweb2.
A growing interest of investors has been observed in the food and grocery space over the past few years. Recently, food startups such as Swiggy and Spoonjoy raised investments and GSF Founder Rajesh Sawhney launched an online food venture Innerchef.