In a bold move into the food delivery space, ride-hailing unicorn Rapido is preparing to launch its own platform, Ownly, directly challenging established players Zomato and Swiggy. The initiative will be rolled out in collaboration with restaurants affiliated with the National Restaurant Association of India (NRAI).
This strategic expansion comes as Rapido secures INR 125 crore in funding from Nexus Venture Partners, with plans to raise an additional INR 250 crore from Dutch investment firm Prosus.
Ownly aims to disrupt the current food delivery market model by offering restaurants a significantly more affordable alternative. Unlike Zomato and Swiggy, which charge commissions as high as 35%, Rapido’s platform will levy a fixed delivery fee ranging from INR 10 to INR 25 per order. This pricing model is expected to bring down the total cost for restaurant partners to approximately 10% to 15% of the order value.
For consumers, Ownly has mandated restaurant partners to list at least four meal options under INR 150, encouraging more value-driven offerings. The low commission structure is anticipated to discourage the widespread discounting model prevalent on other platforms, and instead empower restaurants to offer competitive pricing without compromising margins.
The move also positions Rapido in contrast to the Open Network for Digital Commerce (ONDC), which initially emerged as a potential disruptor in the food delivery segment. However, ONDC has recently been facing challenges such as declining order volumes and leadership turnover.
Rapido, in contrast, brings to the table its 30 million+ monthly transacting users, an established delivery fleet, and a reputation for transparent pricing—factors that could give Ownly a competitive edge.
As Rapido ventures into this fiercely contested space, industry watchers are keen to see whether Ownly can challenge the longstanding Zomato-Swiggy duopoly and carve out a meaningful share in India’s foodtech landscape.
