Suniel Shetty launches food delivery app Waayu

Suniel Shetty announced the launch of Waayu, a food delivery app, and said that times are not challenging, but interesting.

"We all know it is a funding winter. So it shouldn't be about cash burn. The team has to be lean and there should be basic cash flow. I am not talking about unicorns, I am not interested in them anymore. If you are going to look at every start-up as a unicorn that is not going to happen. I will continue to back great founders and great ideas, but also make sure they have good management in place," Shetty said.

We don't charge restaurants commissions because existing food delivery apps charge high commissions. Shetty holds equity in the company and is also its brand ambassador.

The actor said he will be investing in more companies this year and that he has already backed start-ups in the sports and health sectors.

"I invest in founders like that of Waayu. They are not going to be thinking about their jets and Maybachs, but are going to be thinking of how to cover their backs," said Shetty.

As a longtime restaurant and hotel industry professional with a degree in hotel administration and food technology, Shetty sees Waayu as a great opportunity. It is urgent to find a solution to the high commissions charged by food delivery apps that affect both restaurants and customers.