Bollywood actor Suniel Shetty on Tuesday launched a new food delivery application, Waayu which aims to provide restaurants with zero commission platform.
In an interview with Moneycontrol, Shetty talked about the funding winter and the challenging scenario in the startup ecosystem. He said, "We all know it is a funding winter. So it shouldn't be about cash burn. The team has to be lean and there should be basic cash flow. I will continue to back great founders and great ideas, but also make sure they have good management in place."
Waayu's launch comes at an interesting time when the government-backed Open Network for Digital Commerce (ONDC) platform is gaining more traction, following Swiggy's decision to charge Rs 2 platform fee on every order.
It is founded by Anirudha Kotgire and Mandar Lande of Destek HORECA and has started its service in Mumbai so far and has onboarded several restaurants already. Waayu aims to expand to other metro and non-metro cities across India as well.
The report suggests that the app will not charge commission on a per-order basis but will have fixed fees at a starting price of Rs 1,000 per month per outlet, which will be increased to Rs 2,000 later on.
The report also added that nearly 1,000 restaurant listings are already on the app and it is expected to increase to 10,000 in a span of three months across Mumbai and Pune.
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Shetty is not only the brand ambassador of the company but also holds equity. The actor also stated that he intends to invest in some other startups as well this year.
According to the report, "Shetty said that he saw Waayu as a great opportunity as he has been part of the restaurant and hotel industry for long, and has also majored in hotel administration and food technology. He said that the high commissions charged by food delivery apps were affecting both restaurants and customers, and a solution for this was the need of the hour."
Shetty also added that the service has also bagged support from the Indian Hotel & Restaurant Association, Mumbai (AHAR), which helped them in acquiring a strong pipeline of restaurants and customers.
Shetty also added that the service has also bagged support from the Indian Hotel & Restaurant Association, Mumbai (AHAR), which helped them in acquiring a strong pipeline of restaurants and customers.
