Online food delivery and ordering platform Foodpanda India has slashed 300 jobs owing to high automation levels achievement in operations.
Foodpanda India CEO Saurabh Kochhar said the company reduced its workforce by 300 people (15 percent) as it has achieved 98 percent automation in processing orders.
Focusing on technological innovation and automation, Foodpanda India is aiming for profits.
With 2,200 employees, the food ordering platform offers menus from 12,000 restaurants across 200 cities in the country.
In February 2014, foodpanda group said it raised additional $20 million of funding from a group of investors including Phenomen Ventures to roll out foodpanda and hellofood globally. Its target is to reach 40 countries.
In 2013 foodpanda secured more than $20 million funding from Phenomen Ventures and Investment AB Kinnevik and $8 million from iMENA Holdings.
The online marketplace helps restaurants to increase delivery sales through online and mobile platforms. foodpanda is partners with over 22,000 restaurants worldwide.