Coca-Cola India is investing in Thrive, marking FMCG’s first startup investment in India. Thrive is all set to challenge Zomato and Swiggy’s duopoly in the food-ordering business. The startup is currently raising capital at a pre-money valuation of INR 104.68 crore, with Coca-Cola India acquiring a 15% stake in the Mumbai-based online food ordering and delivery platform. The timing is crucial as restaurant partners express dissent with the duopoly concerning high commissions and arm-twisting tactics.
Read the original article here: https://yourstory.com/2023/04/coca-cola-india-thrive-investment-food-ordering-startup-zomato-swiggy