Index Puts $17 million Into… Fast Food?

Who needs web apps and crazy things like Twitter when you can invest in an online ordering system for fast food outlets? That’s what’s just happened to Just-Eat, possibly the leading European aggregator site for ordering fast food online. It’s closed its first institutional financing, with Index Ventures leading the large $17 million (£10.5 million) round. Venrex Investment Management and existing shareholders also participated. The capital will be used to consolidate the company’s position in the UK and to expand into Europe. It appears they are going up against local boostrapped startup HungryHouse.