Foodpanda blames tech spend as loss rises 4 times to ₹142 cr
Rocket Internet-backed food delivery startup Foodpanda's India losses widened by four times to ₹142 crore during the financial year 2016, according to the company’s filing with the registrar of companies. Foodpanda attributed the increased losses to higher investment in technology. The startup's revenues during the period increased 700% to ₹37.8 crore.