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Ola cuts investment in Foodpanda, to narrow focus on cloud kitchen private labels

BENGALURU: India’s largest ride hailing app Ola has more than halved its cash burn at its food business Foodpanda and plans to make its private label brands the cornerstone for growth, even as the food tech war gets more aggressive, driven primarily by deep pocketed rivals Swiggy, Zomato and UberEat’s continued discounting, three people directly aware of the company’s plan told ET. 

According to the new mandate, Foodpanda will focus on running the business more cost efficiently by focusing on its own private labels and cloud kitchens which include The Great Khichdi Experiment, Lovemade and FLRT brands, and continue to leverage Ola’s customer base. / Media and Business

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