In a bid to challenge the stronghold of Swiggy and Zomato, Suniel Shetty-backed WAAYU enters the Indian food delivery market. This novel platform differentiates itself with a zero-commission model, aiming to provide competitive pricing and enhanced benefits for customers.
WAAYU was launched amid significant buzz on May 8. Anirudha Kotgire and Mandar Lande, the founders, aim to shift the industry paradigm by eliminating high commissions charged by established platforms. The startup has the backing of the Mumbai-based Indian Hotel and Restaurant Association (AHAR), which has significantly helped in customer acquisition.
Suniel Shetty, at the launch event, expressed optimism about the venture’s potential. “Our association tie-up is helping us rapidly onboard restaurants and reach millions of customers,” he said. The platform has already attracted 1,500 Mumbai-based restaurants and achieved 25,000 downloads.
Uniquely, WAAYU allows restaurants to pass on the benefits of competitive pricing to their customers. Shetty believes that this flexibility will encourage restaurants to offer their own promotional schemes, adding value to their products.
Revenue
WAAYU will charge restaurants a fixed monthly fee, beginning at INR 1,000 per outlet. There will also be a one-time onboarding fee of INR 3,650. As for the delivery, restaurants can choose between Grab, Dunzo, or their in-house delivery teams. The co-founders, however, did not clarify who would cover the delivery cost.
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In an effort to disrupt Swiggy and Zomato’s longer payment cycles, WAAYU will offer instant payments via the UPI network, potentially improving restaurants’ cash flows.
The co-founders plan to expand WAAYU across India, targeting 10,000+ additional restaurants in Mumbai, Pune, and the suburbs within the next three months. The platform will also integrate with ONDC, another potential competitor in India’s burgeoning food delivery market.
While the market is growing increasingly competitive with new entrants like Thrive, WAAYU’s unique no-commission model might just be the disruptor the industry needs. However, the platform’s ability to compete against the might of Swiggy and Zomato in the $5.3 billion food delivery industry remains to be seen.
This article is based on a report by INC42.
