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<ul><li>According to reports, the deal is in its final stages of negotiations. </li><li>The deal would give Swiggy a bigger hand to take on rival Zomato. </li><li>Swiggy had earlier announced that it is going to start grocery and medicine delivery too. </li></ul>Swiggy had a great 2018, grabbing the unicorn status. And now Swiggy wants a bigger share of the plate as it is in talks with Uber to take over the operations of <keyword id="4704786" type="PERSON" weightage="20" keywordseo="UberEATS-India">Ubereats India</keyword>. According to a report on the <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/uber-eats-india-likely-to-end-up-on-swiggys-plate/articleshow/68105369.cms">Economic Times</a>, the deal is in its final stages of negotiation and is expected to close by next month. The report further mentions that the deal could be a share swap, where Swiggy in exchange for taking over Ubereats will give the ride hailing company Uber a 10% stake. Earlier <a href="https://www.businesstoday.in/current/corporate/ubereats-on-sale-swiggy-zomato-competing-acquire-food-delivery-app-report/story/321164.html">reports</a> also suggested that Zomato and Swiggy both were looking at acquiring Ubereats India operations. Both the companies together hold 80% of the online food delivery space in India. With Swiggy reportedly leading the race for acquisition now, the deal would give the company a better stand to take on rival Zomato. Ubereats launched in India in 2016 and has grown considerably over time. Jason Droege, global head of Ubereats told <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/india-fastest-growing-market-for-ubereats/articleshow/66384076.cms">ET </a>that its India wing has grown seven fold in order volume in the past six months in India, while adding over 4,500 delivery partners each week. Swiggy became one of India’s fastest unicorn in June last year, getting the prime status in just four years of operations. In December 2018, the food delivery startup further raked up a whopping <a href="https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/with-1-b-new-money-and-3-3-b-valuation-swiggy-turns-swaggy/articleshow/67186809.cms">$1 billion</a> in funding, taking up its valuation to $3.3 billion. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core," said Sriharsha Majety, CEO, Swiggy had then <a href="https://www.entrepreneur.com/article/308736">said</a>. The startup is also expanding its <a href="https://www.businesstoday.in/current/corporate/not-only-food-swiggy-will-also-delivery-groceries-medicines-vegetables-at-your-doorstep/story/318547.html">offering</a>, as it announced earlier in February, that it will soon start delivery of groceries, medicines and more. It has also been on an acquisition spree – it <a href="https://www.livemint.com/Companies/AOxcPY6Gu57vSsOLz5whiM/Swiggy-acquires-ondemand-delivery-platform-Scootsy.html">acquired</a> on demand delivery platform Scootsy to leverage the Scootsy’s existent network of restaurants and grow its consumer base. It had also acqui-hired the gourmet Asian food startup 48east. On the technology side, Swiggy had also taken over Bengaluru-based AI startup Kint.io. “This acqui-hire is part of Swiggy's strategy to scale our tech prowess by bringing in entrepreneurial teams that can solve unique customer problems,” said Dale Vaz, Head of Engineering and Data Sciences, Swiggy had told <a href="https://tech.economictimes.indiatimes.com/news/startups/swiggy-acquires-bengaluru-based-ai-startup-kint-io/67829829">ETtech</a>. See Also: <a href="https://www.businessinsider.in/swiggy-and-zomato-are-being-targeted-for-misusing-dominant-position-in-a-petition-filed-with-indias-competition-watchdog/articleshow/67376953.cms">Swiggy and Zomato are being targeted for ‘misusing dominant position’ in a petition filed with India’s competition watchdog</a> <a href="https://www.businessinsider.in/indian-food-delivery-startup-swiggy-raises-1-billion-in-nasper-led-funding-round/articleshow/67187165.cms">Indian food delivery startup Swiggy raises $1 billion in Nasper-led funding round</a> <a href="https://www.businessinsider.in/for-indian-startups-2018-has-been-a-year-of-bouncing-back-as-venture-capital-funding-doubles/articleshow/67286540.cms">For Indian startups, 2018 has been a year of bouncing back as venture capital funding doubles</a>

Swiggy wants more on its plate, in talks to acquire Ubereats India

<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> which turns 5 today, was one of India’s fastest startups to turn unicorn in 2018.</li><li>The startup which also started delivering groceries, has added 240 cities just in 2019 so far. </li><li>Swiggy claims it gets 43 <keyword id="41887" type="PERSON" weightage="20" keywordseo="biryani">biryani</keyword> orders per minute, while Subway, Domino’s, McDonald’s and Burger King lead order numbers.</li></ul>Indian <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">foodtech</keyword> unicorn Swiggy has come a long way from its inception in 2014. Founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini, the food aggregator had in 2018 become India’s fastest unicorn. In December 2018, the food delivery startup further raked up a whopping $1 billion in funding, taking up its valuation to $3.3 billion. And the startup is also expanding its offerings moving on from just food delivery to groceries, medicines and more. Here’s a look at the interesting facts and figures of the foodtech unicorn <div type="Slideshow" msid="70566316" hostid="261" title="Swiggy turns five – the unicorn has gone from 6 delivery partners in 1 city to 200,000 in 290 cities" firstImageMsid="70566317" slideCount="4"></div>

Swiggy turns five – the unicorn has gone from 6 delivery partners in 1 city to 200,000 in 290 cities

<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> is investing as much as ₹250 crore to bring 1,000 <keyword id="3155186" type="PERSON" weightage="20" keywordseo="Cloud-kitchens">cloud kitchens</keyword> on board. </li><li>In the last two years, Swiggy invested ₹175 crore in one million sqft space across 14 cities.</li><li>Swiggy claims that its cloud kitchen initiative generated 8,000 direct and indirect jobs. </li></ul><keyword id="2955508" type="PERSON" weightage="20" keywordseo="food-aggregator">Food aggregator</keyword> unicorn Swiggy is investing as much as ₹250 crore to bring 1,000 cloud kitchens on board. Swiggy will invest in building the cloud kitchens for its restaurant partners. “Swiggy has always maintained that cloud kitchens will be the future of food delivery. Very soon, India will have the second-highest number of cloud kitchens in the world, only next to China. With the massive growth in online food ordering over the last 2-3 years, India has leapfrogged the widespread in-restaurant dining culture that was prevalent in many international markets,” said Vishal Bhatia, CEO of new supply at Swiggy. Swiggy Access, an initiative that was launched two years ago, helps restaurants set up cloud kitchens. In the last two years, Swiggy has invested ₹175 crore in one million sqft space across 14 cities. With this, Swiggy has the highest number of cloud kitchens in India. Cloud kitchens help startups as well as restaurants to also reach out to more cities and service more customers. “The milestone of Swiggy successfully creating over 1000 partner kitchens shows the faith the restaurant partners have in the concept and bolsters our pioneering efforts in enabling more success stories in the restaurant ecosystem,” said Bhatia. Swiggy also claims that its cloud kitchen initiative generated 8,000 direct and indirect jobs in the country. Interestingly, Uber founder Travis Kalanick also invested in the same space as the CEO of Cloud Kitchens. Kalanick's startup is also looking at expanding its business into India as it has been looking to hire India program managers and more.

Swiggy invests ₹250 crore to set up 1000 cloud kitchens

<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> is now present in 500 cities.</li><li>The company also said that one in four Indians has access to Swiggy. </li><li>Swiggy has also seen a rise in the number of its delivery executives moving back to their hometowns to work there. </li></ul>Indian <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">foodtech</keyword> unicorn Swiggy is on an expansion spree. It aims to kickstart operations across another 100 cities in three months, to reach 600 in all by 2020. “As we work towards enabling this for a billion Indians, expanding to Tier 3 and 4 cities is a critical step. Our steady expansion in these cities has shown that there is a growing need for quality food, convenience and accessibility in smaller towns,” Vivek Sunder, chief operating officer, Swiggy, said. The company also said that one in four Indians has access to Swiggy now. Swiggy built some interesting use cases as it expands to newer markets. In the hilly city of Shimla, Swiggy executives deliver food on foot. In Guntur of Andhra Pradesh, the app received more than 2,500 orders on the first day of its launch. As it expands to cities beyond Tier 1, Swiggy is also saw that a number of its delivery executives are moving back to their hometowns, to work. Swiggy became one of India’s fastest unicorn in June last year, getting the prime status within four years of operations. In December 2018, the food delivery startup further raked in a whopping $1 billion in funding, taking p its valuation to $3.3 billion. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core," said Sriharsha Majety, CEO, Swiggy had then said. The startup expanded its offerings to include Swiggy stores and Swiggy Go, on-demand delivery services.

Swiggy is expanding by four cities a day, aims to be in 600 by 2020

<ul><li><keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> delivered 1.5 million food orders in March only on cycles. </li><li>The maximum delivery partners in cycles were in Bangalore followed by Mumbai. </li><li>Swiggy is also piloting delivery through EVs. </li></ul>Indian delivery <keyword id="6362513" type="UNKNOWN" weightage="20" keywordseo="startups">startups</keyword> have been taking a turn towards “green” delivery by switching to <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> and cycles. <keyword id="3105315" type="PERSON" weightage="20" keywordseo="Foodtech">Foodtech</keyword> unicorn Swiggy introduced food delivery on cycles in 2017, and it seems to have finally taken off now. Swiggy reported that in March it delivered 1.5 million food orders on cycles. In tier 2 and 3 cities like Surat, Belgaum, Guwahati and Lucknow over 20% of Swiggy’s delivery partners use cycles for delivery. In India, 10,000 delivery partners use cycles, with maximum cyclists in Bangalore followed by Mumbai. “A couple of years back, we initiated concerted efforts to make millions of our deliveries more sustainable for the environment. With close to 10,000 delivery partners on cycles each day, we have found that in some of our cities, the average travel time for a delivery partner on cycles is even lesser than bikes or scooters,” said Srivats TS, VP, Marketing, Swiggy. Swiggy’s competitor Zomato too had introduced delivery through bicycles in February 2019. According to <a href="https://inc42.com/buzz/zomato-enrols-bicycles-e-bikes-for-delivery-in-12-cities/">reports</a>, Zomato had partnered with startups like Mobycy, Yulu, Zoomcar’s PEDL among others to start the delivery service. The next mile of delivery For delivery startups, fast innovation is defining their stand in the industry. Swiggy is piloting the use of Electric Vehicles for its deliveries in 10 cities. Last year, Swiggy’s delivery partners in cities like Delhi and Lucknow carried out deliveries on e-rickshaws. The company’s official statement said that the adoption of EVs will reduce the running cost by 40%. Going one step ahead, Zomato had earlier <a href="https://www.thehindu.com/business/Industry/zomato-acquires-drone-delivery-startup-techeagle/article25671762.ece">acquired</a> drone startup TechEagle innovations. With this, the startup is reportedly testing delivery via drones. Meanwhile, logistics startup DOT which offers last mile delivery through e-vehicles has been ramping up its business and is also looking at a <a href="https://www.thehindubusinessline.com/economy/logistics/logistics-startup-dot-eyes-rs-365-crore-revenue-in-fy20/article26356832.ece">revenue </a>of ₹360 crore by 2020. See Also: <a href="https://www.businessinsider.in/ubers-ipo-filing-in-the-us-cites-ola-zomato-and-swiggy-as-threats-to-its-india-business/articleshow/68882407.cms">Uber’s IPO filing in the US cites Ola, Zomato, and Swiggy as threats to its India business</a> <a href="https://www.businessinsider.in/from-swiggy-vs-bigbasket-to-paytm-vs-bookmyshow-indian-startups-are-growing-by-becoming-rivals/articleshow/68351389.cms">Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?</a>

Swiggy rides the green wave, delivers 1.5 million orders on cycles; electric vehicles are next

<ul><li>Established <keyword id="982553" type="PERSON" weightage="20" keywordseo="Indian-startups">Indian startups</keyword> are looking at ways to expand their boundaries and are thus encroaching each other’s territories. </li><li>Investors too have been backing up these expansion plans. </li><li>So, it brings up the near possibility of a consolidated market in India.</li></ul>India has grown to be the world’s third largest startup ecosystem, with over 20 unicorns some of which have already established a global foothold. But as India’s number of startups keeps growing, there’s also another unique problem that exists - established startups are looking at ways to expand their boundaries and are thus encroaching each other’s territories. Most recently, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> made news for venturing into grocery delivery, a segment that has been dominated by startups like BigBasket and Grofers or even the delivery services startup Dunzo. Oyo is reportedly looking at entering the foodtech sector by acquisition of Freshmenu to offer more services to its customers. Paytm which has managed to stay in the news throughout last year for good and bad news, has already been experimenting by venturing into several different verticals like e-commerce (Paytm Mall), ticketing (giving competition to the likes of BookMyShow and MakeMyTrip), and of course, how can one ignore its big entry into the world of banks with the payments bank. So what’s making these startups force an entry into another’s territory? Vivek Durai, founder of paper.vc, a data platform for business intelligence and innovation, told Business Insider that one of the reasons could be simply laziness. “It means they did not have a well-thought out plan to achieve brand and product superiority in their growth vertical. It means that their financing rounds have involved significant amounts of introspection about their ability to sustain in a lead purely on the basis of their existing value proposition,” said Durai. But there’s a silver lining. Investors too have been backing up these expansion plans of startups, proving that these startups are showing space for growth beyond their current segment. And Durai says this is the other reason - an organic one. “The territories they enter are 'features' in a product roadmap and are logical next steps to deliver better value to customers which signals alignment,” he said. While startups might not be consciously encroaching into each other’s segments for growth, what it essentially boils down to is how they are planning their growth. Neha Singh, co-founder and CEO of data analytics platform Tracxn believes that it’s a product-oriented approach – whether these companies are focusing on a single offering or multiple. “In the US, companies are typically focussed on one particular product while Chinese companies have a different approach where they diversify much earlier. Which one is a better strategy is still an open debate especially when India has seen both sides of the coin,” said Singh. The choice between single strategy or multi-strategy approach has been seen in various Indian companies. “When you initially start with one product and then diversify, companies realise it’s difficult to handle and obviously, their burn increases. So while companies can meet with success on the multi-strategy approach, they might sometimes go through a heartbreak too,” said Singh. For example, a BookMyShow has essentially stuck to its basic offering of booking tickets, while a Paytm has diversified into multiple different segments. And there’s one lesson to learn – Paytm has the backing to burn cash. It remains to be seen what works out in the Indian market but with acquisitions and mergers heating up the Indian startup space, there strikes the pertinent question – is the Indian startup world headed towards consolidation? “Eventually, yes. But given that the market itself is evolving, growing slowly – the middle class is still too small compared to China. The need of the hour is to kickstart a production-based economy where Indians are able to spend more money simply because the Indian economy is benefiting from export income,” said Durai. See Also: <a href="https://www.businessinsider.in/paytm-takes-on-airbnb-makemytrip-oyorooms-and-trivago-with-its-latest-offer-hotel-bookings/articleshow/67755276.cms">Paytm is competing with almost everyone in Indian e-commerce</a> <a href="https://www.businessinsider.in/oyo-rooms-eyeing-acquisition-of-freshmenu/articleshow/68112104.cms">Oyo wants a bite of foodtech, may acquire Freshmenu: Report</a> <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a>

Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?

<ul><li>According to RoC filings, <keyword id="964794" type="COMPANY" weightage="20" keywordseo="BigBasket">Bigbasket</keyword> has raised $150 million at a reported valuation of $2.3 billion. </li><li>The funding was led by Bigbasket’s earlier investor Alibaba and was joined by new investor Mirae Asset. </li><li>This will give Bigbasket more power to take on new entrants like Swiggy in the Indian online grocery space. </li></ul>Grocery <keyword id="138263" type="PERSON" weightage="20" keywordseo="startup">startup</keyword> Bigbasket is the latest entrant into India’s fast-growing unicorn club. Bigbasket has <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">closed</a> its Series F round of funding with an investment of $150 million, according to filings with the Registrar of Companies (RoC). With this round, Bigbasket’s valuation has more than doubled to reach a <a href="https://www.business-standard.com/article/companies/bigbasket-joins-unicorn-club-with-150-mn-funding-valuation-jumps-two-fold-119032801319_1.html">reported </a>$2.3 billion. The latest round of funding was led by the startup’s existing investor Alibaba while South Korean firm Mirae Asset joined its group of investors. With growing competition in the space, Bigbasket has been fast looking at ways of expansion. In a recent <a href="https://www.moneycontrol.com/news/business/bigbasket-aims-to-double-revenue-growth-to-rs-7000-crore-in-fy20-3590891.html">interview</a>, Hari Menon, co-founder and CEO of Bigbasket said that the company is looking at doubling its revenue to ₹70 billion in FY20. The <keyword id="7475397" type="UNKNOWN" weightage="20" keywordseo="indian-grocery">Indian grocery</keyword> sector has seen a lot of action lately. Foodtech unicorn Swiggy recently joined the grocery sector with <keyword id="7317638" type="UNKNOWN" weightage="20" keywordseo="Swiggy-Stores">Swiggy Stores</keyword> and has already piloted the operations in Gurugram with over <a href="https://www.business-standard.com/article/companies/swiggy-takes-on-bigbasket-grofers-to-deliver-groceries-from-local-stores-119021201294_1.html">3,500</a> local stores. But it’s not just startups that are interested in the grocery sector. Reliance industries-controlled Reliance Industrial Investment and Holdings Ltd (RIIHL) has <a href="https://tech.economictimes.indiatimes.com/news/startups/reliance-industries-subsidiary-inks-pacts-to-acquire-grab-a-grub-and-c-square-info-solutions/68245460">reportedly</a> picked up stake in Mumbai-based hyperlocal delivery startup Grab. See Also: <a href="https://www.businessinsider.in/swiggy-and-bigbasket-will-battle-softbank-and-mukesh-ambani-in-online-grocery/articleshow/68204293.cms">Online grocers are back in business in India with billions more to burn – and that may be good for consumers</a> <a href="https://www.businessinsider.in/milkbasket-strengthens-to-take-on-rivals-swiggy-and-bigbasket-acquires-veggie-india/articleshow/68590658.cms">Four years into the business, Milkbasket has acquired one-year-old startup Veggie India</a>

Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

<ul><li>Indian foodtech unicorn <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> is reportedly scaling down its grocery and fresh produce deliveries. </li><li>However, the $3.6 billion startup said that it will continue to focus on meat, seafood, gourmet and its instant grocery delivery service — Instamart.</li><li>Even though Swiggy operates food delivery services in 500 cities, its grocery delivery service will now be restricted to 20 cities.</li></ul>Indian foodtech unicorn Swiggy is <a href="https://entrackr.com/2020/12/exclusive-swiggy-moves-away-from-grocery-and-fresh-produce-delivery/">reportedly</a> scaling down its grocery and fresh produce deliveries. “We expanded our services across the country during the lockdown as consumers turned to Swiggy not just for food but also other essentials. Given that movement restrictions have been eased, we are rolling back grocery delivery and focusing on offerings like <keyword id="9167642" type="UNKNOWN" weightage="20" keywordseo="Swiggy-Genie">Swiggy Genie</keyword> where consumers can shop from any store in the city including groceries &amp; essentials or pick-up and drop-off packages,” said a Swiggy spokesperson. However, not everything will be toned down. The $3.6 billion startup said that it will continue to focus on meat, seafood, petcare gourmet and its essential delivery service Instamart, which delivers products like groceries, fresh fruits &amp; vegetables, personal care items among other things. “With a delivery promise of 30 to 45 minutes, Instamart is rapidly becoming a favourite among consumers (in Bangalore and Gurgaon) while unlocking a new dimension of convenience retailing in India,” said the spokesperson. Even though Swiggy operates food delivery services in 500 cities, it has said that it will restrict grocery to about 20 cities. “Pre-COVID, 80% of Swiggy’s business was food delivery, and the remaining came from other segments. The company expects this ratio to change to 50-50 in the next 2 to 3 years, with increased contribution from grocery, cloud kitchen, etc,” said a Goldman Sachs report from November, 2020. Interestingly, Swiggy’s rival <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword>, which had also forayed into grocery delivery with the Zomato Markets feature had earlier said that it was scaling down the service. Both the unicorns had ramped up their offerings in <keyword id="1392240" type="PERSON" weightage="20" keywordseo="grocery-retail">grocery retail</keyword> during the coronavirus lockdown when the segment saw a massive boom. This leaves the market with players like JioMart, Amazon, Flipkart, Grofers and BigBasket, which is reportedly in talks with the Tata Group for an investment. SEE ALSO: <a href="https://www.businessinsider.in/business/startups/news/steadview-capital-invests-in-softbank-backed-logistics-unicorn-delhivery-founder-eyes-an-ipo-in-the-next-15-months/articleshow/79732530.cms">Steadview Capital invests in SoftBank-backed logistics unicorn Delhivery – founder eyes an IPO in the next 15 months</a> <a href="https://www.businessinsider.in/business/startups/news/indian-saas-startup-zenoti-enters-the-unicorn-club-with-a-160-million-funding/articleshow/79734387.cms">Another unicorn – Indian SaaS startup Zenoti enters the coveted club with a $160 million funding</a>

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Swiggy wants more on its plate, in talks to acquire Ubereats India

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Swiggy turns five – the unicorn has gone from 6 delivery partners in 1 city to 200,000 in 290 cities

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Swiggy invests ₹250 crore to set up 1000 cloud kitchens

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Swiggy is expanding by four cities a day, aims to be in 600 by 2020

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Swiggy rides the green wave, delivers 1.5 million orders on cycles; electric vehicles are next

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Do Swiggy, OYO, and Paytm lack Silicon Valley’s planning and conviction?

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Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation

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After Zomato, Swiggy scales down its grocery marketplace operations – leaving more space for JioMart, BigBasket, Amazon and others

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