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Private equity firms Forum Synergies and Axon Capital pick up stake at Justeat.in

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November 18
10:11 PM 2013

Private equity firms Axon Capital and Forum Synergies purchased a minority stake in online food delivery service Justeat.in. The terms of the deal were not disclosed, according to a report published by The Economic Times.

The Bangalore-based online food ordering portal used to be majority owned by UK's Just Eat Holdings Ltd. The UK-based owner of Justeat.in diluted a portion of its shares to give way to new investors, the report said.

Justeat.in said it will use the new funds raised from the minority stake sale to hire new employees. The company will need new engineers and marketing staff for the improvement of its technology and operations. The firm plans to expand to Hyderabad, Pune, and Chennai, said the report.

The management of Justeat.in utilizes various tools including website and mobile apps to facilitate fast delivery of food. For instance, when an order comes in from a client, an alarm in the restaurant computer will sound off. The screen then freezes until the customer's order is processed, The Economic Times explained.

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