Food Panda founding member quits to start his own initiative

There are ripples in online food ordering and delivery firm Foodpanda India. One of its founding members, Rohit Chadda has resigned.

"I have personally decided to step aside from my role as Managing Director of the company to pursue new initiatives. I have resigned from the position from August 1," Foodpanda India co-founder Rohit Chadda told the press.

Foodpanda India was co-founded by Chadda, Amit Kohli and Akhilesh Bali in 2012 and currently it has around 12,000 restaurant partners in over 200 cities in the country.

"I have also resigned from the board, however, I will continue as a shareholder in the company but will not be involved in its day-to-day operations," he added.

Asked about the new initiatives he will pursue, Chadda said, "It will be to pursue new challenges, new opportunities. The opportunity on mobile space is huge and that is what I am after."

He, however, did not give the details about what he would be pursuing.

Foodpanda had appointed Saurabh Kochhar as its India CEO and chief business officer of global operations in March this year.

The group is active in over 40 countries across five continents. It started as independent startups in multiple countries across South & East Asia, incubated by the same investor - Rocket Internet.

The Foodpanda group has raised over USD 300 million in multiple rounds of funding with the last one being of USD 100 million, led by Goldman Sachs.