Rapido, an Indian ride-hailing platform, has initiated beta testing of its food delivery service in Bengaluru under the subsidiary Ownly, challenging Swiggy and Zomato.
Ownly offers food at around 15% lower prices by charging restaurants a fixed fee per order instead of commissions.
Swiggy is reevaluating its 12% stake in Rapido due to potential conflicts of interest. Rapido has a fleet of 10 million vehicles and will leverage data from its Swiggy partnership to optimize its food delivery service.
The Indian online food delivery market is projected to reach $23 billion by 2030, with Zomato currently leading with a 58% market share and Swiggy holding 42%.