As India's hyperlocal logistics sector sees shutdowns, food tech startups have started buying their own bikes to deliver your pizza and burger in time.
The hyperlocal delivery segment, which was a must have for every institutional investor till almost a year ago has now gone under the radar due to poor unit economics and blurry sight of a near profitability.
The hyper local delivery start-up Roadrunnr last week acquired the troubled food-ordering platform TinyOwl. Post the acquisition, Roadrunnr has been rebranded as Runnr and it will function as a food-ordering and delivery platform.
Food ordering service Tinyowl is a prime example of both consolidation and a ramp-down. This heavily-funded venture has stopped operations in Bengaluru, Pune and Hyderabad. So the only city it is now operational in is Mumbai.
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