Latest news with #AravindSanka
Hans India
4 days ago
- Business
- Hans India
Rapido Challenges Swiggy and Zomato with New Food Delivery Venture ‘Ownly' in Bengaluru
Rapido, the popular Indian ride-hailing service best known for its bike taxis, has taken a bold step beyond mobility by launching its first food delivery platform, 'Ownly'. The new service is currently in its pilot phase in select Bengaluru neighbourhoods, directly challenging industry leaders Swiggy and Zomato. Speaking to TechCrunch, Rapido co-founder and CEO Aravind Sanka confirmed that the beta rollout covers areas including Byrasandra, Tavarekere, Madiwala (BTM) Layout, Hosur Sarjapura Road (HSR) Layout, and Koramangala. The service operates under Ctrlx Technologies, a wholly owned subsidiary of Rapido. The move has stirred the competitive pot. According to The Mint, Swiggy — which has previously invested in Rapido — recently told shareholders it would 're-evaluate' its stake, citing 'a potential conflict of interest' as Rapido ventures into the same market. Lower Prices, New Business Model Ownly's core selling point is affordability. The company claims it can offer food prices about 15% lower than those on Swiggy and Zomato. The difference lies in its pricing structure — instead of charging restaurants commissions as high as 30%, Ownly follows a fixed-fee-per-order approach. Rapido reportedly pitched this model to restaurant partners in June, presenting it as a fairer, more sustainable alternative. To keep operations lean and efficient, Ownly plans to limit delivery zones, showing customers only restaurants located nearby. This approach is designed to cut fuel expenses, shorten delivery times, and ensure better profitability for both Rapido and its partner eateries. Menus will also be curated strategically, aiming to strike a balance between visibility for restaurants and higher margins. Leveraging a Massive Fleet Rapido's biggest strength may lie in its existing network. The company operates a vast fleet of around 10 million vehicles nationwide, including 5–6 million two-wheelers. This same network supports its bike taxi, auto rickshaw, courier, and cab operations. Interestingly, Rapido has previously worked as a delivery partner for Swiggy, giving it valuable insight into demand patterns, peak hours, and popular dining spots. While its agreement with Swiggy prohibits partnering with Zomato or other direct competitors during that period, the company is allowed to use the operational data it gathered. Beyond Food: Rapido's Expanding Horizons Founded in 2015, Rapido initially made its mark in bike taxi services before expanding into auto rides, parcel deliveries, third-party logistics, and cabs. More recently, it has partnered with Taiwan's Gogoro to introduce battery-swapping electric two-wheelers into its operations, signalling its commitment to both innovation and sustainability. With Ownly, Rapido is making its most ambitious play yet outside its traditional mobility business. Whether its low-price, commission-free strategy will shake up the food delivery duopoly in India's tech capital remains to be seen — but for now, Bengaluru's foodies have a fresh new option on the menu.
India Today
5 days ago
- Business
- India Today
Rapido takes a swing at Swiggy and Zomato, enters food delivery space with Ownly
Rapido, the Indian ride-hailing company best known for its bike taxis, has begun testing a new food delivery service called Ownly in Bengaluru, taking direct aim at market leaders Swiggy and Zomato. The service is currently in beta and available in select parts of the city, including Byrasandra, Tavarekere, Madiwala (BTM) Layout, Hosur Sarjapura Road (HSR) Layout, and Koramangala, co-founder and chief executive Aravind Sanka told TechCrunch. Rapido has launched Ownly through a wholly owned subsidiary, Ctrlx a recent letter to shareholders, Swiggy reportedly said it would 're-evaluate' its investment, pointing to 'a potential conflict of interest' as Rapido enters the same market, according to a report by The Mint. As per the reports, Ownly's pitch is clear: offer food at around 15 per cent lower prices than Swiggy and Zomato. This is possible because, unlike its rivals, Rapido does not charge restaurants a commission of up to 30 per cent. Instead, it uses a fixed-fee-per-order model, a plan it reportedly presented to restaurants in June. TechCrunch also reports that Rapido will keep delivery zones tight, showing only nearby restaurants to reduce fuel costs and speed up service. Menus will be curated to maximise margins without hurting visibility for eateries, according to an investor cited in the company reportedly plans to use its large fleet, which will be of about 10 million vehicles nationwide, including 5-6 million two-wheelers, for the new service. This same network is already used for its taxi and courier operations. Rapido has also handled deliveries for Swiggy in the past, giving it insight into peak demand times and popular restaurants. The company is allowed to use this data, though its agreement with Swiggy bars it from working with Zomato or other in 2015, Rapido started with bike taxis before expanding into auto rickshaws, parcel delivery, third-party logistics, and most recently cab services. It has also partnered with Taiwan's Gogoro to introduce battery-swapping electric two-wheelers into its fleet.- EndsTrending Reel
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Business Standard
5 days ago
- Business
- Business Standard
Rapido launches Ownly app, enters food delivery with zero-commission model
Ride-hailing platform Rapido has launched its standalone mobile application, Ownly, marking its entry into the food delivery segment. Currently, the app is servicing select areas, including Koramangala, HSR, and BTM Layout. The newly launched app will compete with the likes of Swiggy, Zomato, and Magicpin. The launch comes just a few months after Rapido and the National Restaurants Association of India (NRAI), which claims to represent over 50,000 eateries, started conversations to finalise terms and conditions (T&C) for bringing restaurant partners on the platform. NRAI had said that, given that Swiggy and Zomato charge high commissions, the association is actively exploring a third alternative. The new platform, as a result, will be based on a zero-commission model. According to the terms that were earlier exchanged between NRAI and Rapido, the restaurant partners will pay the delivery fee for all orders in a standard radius of four kilometers or less. However, in cases where the order value is Rs 100 and below, delivery costs will be Rs 10. Here, the customers will be asked to pay Rs 20. In other cases, where the order value is above Rs 100 and below Rs 400, the delivery cost will be Rs 25, in addition to a flat GST amount. For orders above Rs 400, the cost will be Rs 50. Business Standard had reviewed a copy of the T&C. In an exclusive interview with this newspaper in May this year, commenting on the question of a potential food delivery business, Rapido's co-founder, Aravind Sanka, said, "Whatever we do, we will try to give value back to the users in any category. In any category we enter in the future, we'll have a similar philosophy. There are multiple opportunities that always knock on the door because of our scale. We also want to see what the void in the market is. So, a lot of the time, we don't enter just because someone has left that void. We enter because we think the value is not actually getting passed for some reason." In May 2025, on an overall platform level, Rapido had closer to two million captains. The company also plans to expand its services to 500 cities by year-end.
Yahoo
5 days ago
- Business
- Yahoo
India's Rapido begins testing food delivery to take on Swiggy, Zomato
Rapido, a popular ride-hailing platform in India, has quietly begun beta testing its food delivery service in Bengaluru, marking its first serious move to challenge market leaders Swiggy and Zomato in one of the world's fastest-growing delivery markets. The 10-year-old startup has started testing its food delivery service in three primary localities in the southern city of Bengaluru, namely Byrasandra, Tavarekere, and Madiwala (BTM) Layout, Hosur Sarjapura Road (HSR) Layout, and Koramangala, Rapido co-founder and CEO Aravind Sanka confirmed to TechCrunch. Rapido created a wholly owned subsidiary Ctrlx Technologies to launch its food delivery service, named Ownly. The subsidiary lists Sanka and Rapido vice president of finance Vivek Krishna as the directors, per the regulatory filings reviewed by TechCrunch. Sanka said there was no specific reason for setting up the subsidiary. However, it may be a strategic move to avoid potential conflicts of interest with Swiggy, which currently holds a 12% minority stake in the ride-hailing startup. Swiggy recently confirmed in a letter to shareholders that it would reevaluate its investment in Rapido, citing a potential conflict of interest 'that may arise in the future.' Meanwhile, Rapido's Ownly has also released its Android app on Google Play that offers food from nearby restaurants at around 15% lower prices than those on Swiggy and Zomato. The lower pricing is a result of Rapido's model of not taking commissions from restaurants, which are up to 30% in the case of other food delivery apps, including Swiggy and Zomato, and instead charging a fixed fee per order. The startup mentioned its fixed-fee approach in a proposal to restaurants in June. Rapido has a fleet of around 10 million vehicles, including 5 to 6 million two-wheelers, across India, a person familiar with the startup's business told TechCrunch recently. The company is using its two-wheeler fleet to deliver food — alongside offering its taxi and courier services. Rapido will avoid showing restaurants located far from customers to reduce fuel costs and delivery times, and will curate menu items on its app to maximize margins while offering enough discoverability, a Rapido investor told TechCrunch on condition of anonymity. While handling deliveries for Swiggy, Rapido gained insight into peak hours and high-demand restaurants — the data it would now leverage for its own food delivery service, the investor said. The agreement with Swiggy does not prevent Rapido from using this data, although it does prohibit the startup from entering into contracts with Zomato or other competitors, the investor added. Founded in 2015, Rapido began as a bike taxi aggregator before expanding into auto rickshaws, parcel delivery, and third-party logistics. In 2023, it entered the cab business to take on Uber and local rival Ola. The startup gained traction in this segment with its subscription-based model, positioning it as an alternative to the commission-based approach used by its competitors. Rapido also partnered with Taiwanese battery-swapping electric two-wheeler maker Gogoro to deploy its vehicles as bike taxis. Moreover, the recent moves helped the startup boost its valuation and become a unicorn last year. India's online food delivery market is projected to surpass ₹2 trillion (approximately $23 billion) by 2030, per a report by Bain & Company and Swiggy released last year. Zomato currently leads the market with a 58% share, according to brokerage firm Motilal Oswal, while Swiggy holds the remaining 42%, per Bernstein. Uber was also among the early players in the space with Uber Eats, which it sold to Zomato in early 2020. So far, Rapido has raised $574 million in 13 rounds, per Tracxn. It operates in more than 250 cities and handles over 3.5 million rides daily. The startup counts Prosus, WestBridge Capital, Nexus Venture Partners, and Think Investments, among its key investors. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
TechCrunch
5 days ago
- Business
- TechCrunch
India's Rapido begins testing food delivery to take on Swiggy, Zomato
Rapido, a popular ride-hailing platform in India, has quietly begun beta testing its food delivery service in Bengaluru, marking its first serious move to challenge market leaders Swiggy and Zomato in one of the world's fastest-growing delivery markets. The 10-year-old startup has started testing its food delivery service in three primary localities in the Southern city of Bengaluru, namely Byrasandra, Tavarekere, and Madiwala (BTM) Layout, Hosur Sarjapura Road (HSR) Layout, and Koramangla, Rapido co-founder and CEO Aravind Sanka confirmed to TechCrunch. Rapido created a wholly-owned subsidiary Ctrlx Technologies to launch its food delivery service, named Ownly. The subsidiary lists Sanka and Rapido Vice President of Finance Vivek Krishna as the directors, per the regulatory filings reviewed by TechCrunch. Sanka said there was no specific reason for setting up the subsidiary. However, it may be a strategic move to avoid potential conflicts of interest with Swiggy, which currently holds a 12% minority stake in the ride-hailing startup. Swiggy recently confirmed in a letter to shareholders that it would re-evaluate its investment in Rapido, citing a potential conflict of interest 'that may arise in the future.' Meanwhile, Rapido's Ownly has also released its Android app on Google Play that offers food from nearby restaurants at around 15% lower prices than those on Swiggy and Zomato. Rapido's Ownly Food delivery app The lower pricing is a result of Rapido's model of not taking commissions from restaurants, which are up to 30% in the case of other food delivery apps, including Swiggy and Zomato, and instead charging a fixed fee per order. The startup mentioned its fixed-fee approach in a proposal to restaurants in June. Techcrunch event Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital, Elad Gil — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $600+ before prices rise. Tech and VC heavyweights join the Disrupt 2025 agenda Netflix, ElevenLabs, Wayve, Sequoia Capital — just a few of the heavy hitters joining the Disrupt 2025 agenda. They're here to deliver the insights that fuel startup growth and sharpen your edge. Don't miss the 20th anniversary of TechCrunch Disrupt, and a chance to learn from the top voices in tech — grab your ticket now and save up to $675 before prices rise. San Francisco | REGISTER NOW Rapido has a fleet of around 10 million vehicles, including 5 to 6 million two wheelers, across India, a person familiar with the startup's business told TechCrunch recently. The company is using its two-wheeler fleet to deliver food — alongside offering its taxi and courier services. Rapido will avoid showing restaurants located far from customers to reduce fuel costs and delivery times, and will curate menu items on its app to maximize margins while offering enough discoverability, a Rapido investor told TechCrunch on condition of anonymity. While handling deliveries for Swiggy, Rapido gained insight into peak hours and high-demand restaurants — the data it would now leverage for its own food delivery service, the investor said. The agreement with Swiggy does not prevent Rapido from using this data, although it does prohibit the startup from entering into contracts with Zomato or other competitors, the investor added. Founded in 2015, Rapido began as a bike taxi aggregator before expanding into auto rickshaws, parcel delivery, and third-party logistics. In 2023, it entered the cab business to take on Uber and local rival Ola. The startup gained traction in this segment with its subscription-based model, positioning it as an alternative to the commission-based approach used by its competitors. Rapido also partnered with Taiwanese battery-swapping electric two-wheeler maker Gogoro to deploy its vehicles as bike taxis. Moreover, the recent moves helped the startup boost its valuation and become a unicorn last year. India's online food delivery market is projected to surpass ₹2 trillion (approximately $23 billion) by 2030, per a report by Bain & Company and Swiggy released last year. Zomato currently leads the market with a 58% share, according to brokerage firm Motilal Oswal, while Swiggy holds the remaining 42%, per Bernstein. Uber was also among the early players in the space with Uber Eats, which it sold to Zomato in early 2020. So far, Rapido has raised $574 million in 13 rounds, per Tracxn. It operates in more than 250 cities and handles over 3.5 million rides daily. The startup counts Prosus, WestBridge Capital, Nexus Venture Partners, and Think Investments, among its key investors.
