New food delivery app launched as a competitor to Zomato, Swiggy

With restaurants across cities complaining of high commission and delayed deliveries by Zomato and Swiggy, the Indian Hotel and Restaurant Association has now come up with its own food delivery app 'Waayu'. The app aimed at offering restaurants a zero-commission platform. More than a thousand brands have already joined the platform. Actor and investor Suniel Shetty has been onboarded as the brand ambassador. 

Waayu will enable restaurants to receive their dues instantly, and deliver orders via Grab, Dunzo, or use their own delivery staff. It will also offer a SaaS platform that will enable restaurants to manage orders by automating the workflow. 

The food delivery app is developed by tech entrepreneurs Anirudha Kotgire and Mandar Lande of Destek HORECA, launched its services in Mumbai on Monday. 

Meanwhile, US-based investment management firm Invesco has slashed Swiggy’s valuation to $5.5 billion. This is the second time the foodtech firm’s valuation was slashed by Invesco this year. 

Zomato has also recently increased commission on food delivery orders and is nudging restaurants to advertise on the platform as it doubles down on profitability. This reflects the volatility and slow growth in the food delivery business.