November 18, 2013 by
This time, we have some BIG news to share with you. In fact, the elation and upbeat mood is evident on every single face in our JUST EAT office. Here goes: We have just raised a very grand third round of investment – one of our largest till date – from JustEat Holdings, Forum Synergies and Axon Partners Group, heralding a brand new era for JUST EAT India!
Apart from being a great milestone for the company, the investment also brings on board one of the most respected individuals in corporate India – Mr Hemchandra Javeri, who has joined our company’s board of directors. The ex-CEO of renowned companies like Madura Garments and Nike India, Mr Hemchandra has decades of rich and extensive experience behind him. Mr Francisco Velazquez from Axon Partners Group has also joined the team. We’re privileged to have such distinguished personalities with us to lead the way; this is a great testament to what we have built together at JUST EAT all these years, our belief in the business and more importantly, our team as well.
But it’s you, our foodies, who will actually reap the benefits from all this. With new and improved resources at hand, we’ll be able to serve you better and more efficiently than before; each ounce of effort that goes into getting you your food from our end will hopefully translate into a much better user experience for you. In short, we promise to try our very best to live upto the highest expectations you’ve set for us. And, beyond.
We still have a long way to go. But since we’re already so far from where we used to be when we started, we’re proud of that
Thank you, foodies, for making us what we are. We love serving you. Cheers!
Please find the press release here:
FORMIDABLE COMBINATION INVESTS IN JUSTEAT INDIA
JUSTEAT,world leader in the online food takeaway business, has joined forces with global investment company,Axon Partners Group and India-based value added Private Equity fund manager, Forum Synergies (India) PE Fund Managers,to co-invest in JUSTEAT’s India business, JUSTEAT.IN
JUSTEAT has looked to Axon and Forum Synergies for strategic advice,India track record, local presence and networking capabilities in India.
Ritesh Dwivedy, CEO of JUSTEAT.IN says: “We are delighted at the investment by world class investors into JUSTEAT.IN. We have signed up approx. 2,500 restaurantsin Bangalore, Delhi (National Capital Region)and Mumbai, with thousands of regular consumers. We planto use these resources to increase our team, accelerate growth,strengthenrestaurant presence and build consumer loyalty in these cities, while aggressively expanding into other Metros of India”.
David Buttress, CEO of JUSTEAT says: “We are delighted to be partnering with the team at Axon and Forum Synergies to further strengthen our position in the rapidly growing Indian market and accelerate our roll-out.”
JUSTEAT.IN is targeting India’s exploding internet population of 164M people, which is growing 20% year on year; its strong Quick Service Restaurants industry, which is worth100 billion US dollars;as well as its delivery market, which management estimates to be greater than1.6 billion US dollars,and is growing at an extremely fast rate.
Francisco Velázquez, President of Axon Partners Group, comments: “We are very excited to be working with the strongest global brand in online food delivery, JUST EAT. It is made up of a great team and has world-class know-how.India is one of the biggest emerging markets, and one that we know very well. Considering the impressive EBITDA levels that online food delivery is achieving in mature markets, it is a positive move for Axon to co-invest in the market leader in India, alongside JUST EAT, the global market leader.”
Hemchandra Javeri, Co-Founder and Executive Director of Forum Synergies (India) PE Fund Managers emphasises: “We know the internet business in India thoroughly and are confident the JUSTEAT brand has the potential to lead this domain. Our research tells us mobile technologies will be the future of online food ordering and we have the knowhow to translate that into reality. The established management team, a global brand leader and the top class investors make JUSTEAT.IN a winning combination”. Samir Inamdar, Co-Founder and CEO of Forum Synergies says: “The fact that a global leader like JUSTEAT has sought Forum Synergies for India business expertise reinforces our unique private equity model which leverages our team’s strong India track record to create substantial value and deliver healthy returns to investors”.
Notes for Editors:
For additional information on JUSTEAT.IN please contact email@example.com
For press information on Axon Partners Group, please visit www.axonpartnersgroup.com or contact Rosie Hegarty at firstname.lastname@example.org.
For additional information on Forum Synergies (India) PE Fund Managers please visit www.forumsynergies.com or contact email@example.com
For press information onJUSTEAT, please contact Brunswick at firstname.lastname@example.org.
Source: Telecom Regulatory Authority of India. The Indian Telecom Services Performance Indicators.August 2013
 Source: BCG.The Internet’s Next Billion
 Source: Economic Times of India. India becomes the new fast food destination
Source: JustEat India calculations