Chennai has been hit by record levels of rainfall over the last few days. The rains have left thousands of people stranded, shut down offices and businesses, and 188 lives have been lost. But amidst the gloom, there’s some hope. Indian startups are going out of their way to help Chennai’s stricken populance in any way they can. Here are some Indian startups that have pitched in to help with the Chennai floods.
A year ago, the food tech sector was booming. Funds were plentiful, investors were upbeat, and a new company seemed to be coming up every minute. Cut to a year later, and things aren’t quite so rosy. There have been murmurs of overvalued companies, and investors are being more circumspect with their cash. One sector that has been particularly hard hit is the food tech industry.
Zomato’s deal with hyper-local delivery company Pickingo appears to be in trouble. Two months ago, the company had announced an investment in Gurgaon-based Pickingo, which would’ve seen Zomato own a 10% stake in Pickingo. But the plans appears to be on hold after recent developments, reported Economic Times.
Zomato’s been expanding its influence in the food business. From starting Whitelabel, which is a software product for restaurants, to having its own delivery service, Zomato has been taking on uncharted territory over the past year. But when it launched Zomato Book, its restaurant booking service, and announced that it wanted “to ensure that we are the first in the market”, Dineout wasn’t pleased.