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<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

<keyword id="6354743" type="COMPANY" weightage="20" keywordseo="Amazon-India">Amazon India</keyword> is planning to invest in online food delivery startup <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="Swiggy">Swiggy</keyword>, which also got attention from Chinese players like Ele.me that is backed by Alibaba. 
 
However, Amazon India and Swiggy are in initial discussions only and talks may fall apart too. 
 Bengaluru-based Swiggy, which competes with <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> and <keyword id="1666592" type="UNKNOWN" weightage="20" keywordseo="Foodpanda">Foodpanda</keyword>, is getting lot of attention from strategic investors as it is fulfilling close to 40,000 orders per day. 
 
As per Morgan Stanley, online penetration in food delivery services was only 2 per cent in India while it was 20-30 per cent in China, the UK and Canada. 
 
"Everyone is talking since they are doing really well but it is not certain that a deal will be closed," sources told ET. 
 
Swiggy was founded by BITS-Pilani alumnus Sriharsha Majety, the CEO, and Rahul Jaimini and Nandan Reddy. 
 
ET reported Swiggy's executives have held three meetings with Amazon's India head Amit Agarwal. 
 
Swiggy has raised about $72 million so far and has investors including, Accel Partners, Norwest Venture Partners and Bessemer Venture Partners. 
 
"There are synergies in hyperlocal cross-utilisation. Amazon will get a big food business and a hyper-local fleet on whose backbone they can grow aggressively in grocery as well," an investor in the hyper-local market told ET. 
 
"For Swiggy, getting a high order density will lead to better utilisation of the hyper-local fleet leading to a sustainable business. After food, the next logical expansion would be grocery and Amazon Now does grocery, so maybe that's the synergy."

After Chinese investors, online food delivery startup Swiggy gets attention from Amazon India

New Delhi, May 21 () Food ordering and delivery platform Swiggy on Thursday said it has started home delivery of alcohol in Ranchi and is in talks with various state governments to provide support with online processing and home delivery of alcohol in their states. The service has gone live in Ranchi and will be launched in other major cities in Jharkhand within a week, Swiggy said in a statement. The company is also in advanced stage of discussions with multiple state governments to provide support with online processing and home delivery of alcohol, it added. To ensure safe delivery of alcohol in compliance with applicable laws, Swiggy has introduced measures such as mandatory age verification and user authentication to complete deliveries, the statement said. "By enabling home delivery of alcohol in a safe and responsible manner, we can generate additional business for retail outlets while solving the problem of overcrowding, thereby promoting social distancing," Swiggy Vice-President (Products) Anuj Rathi said. Taking advantage of the company's existing technology and infrastructure to enable hyperlocal deliveries, it has been working closely with the local authorities to support them with initiatives like expansion of grocery delivery and COVID-19 relief efforts, he added. Swiggy is partnering with authorised retailers after validating their licence and other required documents as outlined by respective state governments, the statement said. The online processing and home delivery of alcohol is through the 'Wine Shops' category on the the company's app, it added. AKT HRS

Swiggy begins home delivery of alcohol, starts from Ranchi

New Delhi, Nov 20 () Food ordering platform Swiggy on Wednesday said it has set up over 1,000 cloud kitchens for its restaurant partners and plans to have more such facilities in 12 new cities by March next year.
 In a span of just two years, the company has invested in over a million square feet of real estate space across 14 cities to help large, medium and small restaurant partners expand to more locations both within their city and across new cities through cloud kitchens, Swiggy said in a statement.
 "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," Swiggy New Supply CEO Vishal Bhatia said.
 The milestone of Swiggy successfully creating over 1,000 partner kitchens shows the faith the restaurant partners have in the concept and bolsters company's pioneering efforts in enabling more success stories in the restaurant ecosystem, he added.
 In a cloud kitchen concept, operators prepare, package and deliver food without providing any dine-in facility to end-consumers.
 "Over the last two years, Swiggy has invested over Rs 175 crore towards setting up and running these kitchens. This success has encouraged us to invest an additional Rs 75 crore to bring more partner cloud kitchens in 12 new cities by March 2020," Bhatia said.
 Swiggy Access has helped grow restaurant businesses, deliver unmatched customer experience and created employment opportunities in metros as well as tier-II and -III cities, he added.
 Swiggy's cloud kitchen operations across partner restaurants and its own brands so far have generated more than 8,000 direct and indirect jobs in the restaurant industry while reducing overheads, the company said.
 The company is set to add another 7,000 direct and indirect jobs in the restaurant industry in the next six months, it added. 
 Swiggy Access was launched in 2017, an initiative to bring quality food closer to consumers while enabling business expansion for its restaurant partners. AKT RUJ
RUJ

Swiggy to expand cloud kitchens to 12 new cities by March 2020

<ul><li><keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> is in talks to raise $400 million from Ant Financial and Temasek, which could give it a <keyword id="51393" type="PERSON" weightage="20" keywordseo="valuation">valuation</keyword> of as much as $2 billion. </li><li>Earlier this week, <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> raised $210 million from Naspers and DST Global, which helped it breach the $1 billion valuation mark. </li><li>Swiggy reportedly leads Zomato in terms of orders, clocking in more than 10 million orders a month compared to Zomato’s 7 million. </li></ul> Zomato, a restaurant discovery and <keyword id="6376068" type="UNKNOWN" weightage="20" keywordseo="food-delivery">food delivery</keyword> app, is reportedly in final negotiations to raise an additional $400 million from its investors Ant Financial, which is owned by Alibaba, and Singapore’s Temasek Holdings. The potential investment, which was reported by Livemint, could value the company at as much as $2 billion. Talks have reportedly been going on since early April. A threat from a rival <keyword id="152045" type="ORGANIZATION" weightage="20" keywordseo="Unicorn">unicorn</keyword> The report come swiftly after rival food delivery service Swiggy closed a $210 million infusion in a funding round which was led by Naspers, a South African media conglomerate, and DST Global, which is owned by Israeli-Russian billionaire Yuri Milner. The investment has catapulted Swiggy to the unicorn club by giving it a valuation of $1.3 billion. This is a significant achievement for a company that is only four years old. It took Zomato more than twice the time to become a unicorn. The investment puts Swiggy ahead of Zomato, in terms of valuation, until the latter’s funding round is completed. In February, Ant Financial ploughed <a href="https://www.moneycontrol.com/news/business/startup/zomato-raises-200-million-from-ant-small-and-medium-financials-2498127.html">$200 million</a> into Zomato, valuing it at $1.1 billion in the process. Swiggy was valued at around $700 million around the same time. Another battleground As the companies take on each other in terms of valuations, they will also try to muscle each other out in a hotly-contested market. Swiggy currently leads Zomato in terms of orders, clocking in more than 10 million a month as compared to Zomato’s 7 million. Alongside the e-commerce and ride-hailing sectors, the online food delivery space is another battleground for tech companies in India. A number of companies are competing in the space, including ride-hailing apps like Uber, which is ramping up its UberEats services, and Ola, which acquired Foodpanda late last year. As they try and seize each other’s market share and make inroads into new cities, a lot of cash will be spent on supply chain expansion while handouts will be given to entice restaurants and customers to come aboard.

Zomato will likely stay ahead of rival Swiggy in latest round of valuations

New Delhi, Feb 12 () Food ordering and delivery platform Swiggy on Wednesday announced the introduction of a new initiative 'BrandWorks', to co-create delivery brands with its restaurant partners. These brands, co-created by the company's BrandWorks, are delivery brands that operate out of the restaurant partners' existing dine-in facilities. This is an asset-light low-investment model, Swiggy said in a statement. This model can, therefore, scale rapidly and generate revenue for restaurants from day one with negligible capital investment -- a win-win for all stakeholders, it added. "Having created over 1,000 Access kitchens for our restaurant partners, we are now meeting unmet consumer needs by co-creating delivery brands through our BrandWorks initiative," Swiggy New Supply CEO Vishal Bhatia said. This is an important step in bridging supply gaps, creating consumer delight and offering restaurants unmatched growth opportunities through an innovative business model, he added. "Our goal is to co-create hundreds of such brands with multiple restaurant partners across the country by the end of 2020," Bhatia said. Swiggy currently has 100 such brands on its platform that were co-created with 95 restaurant partners across 13 cities, the company said. Both models offered by Swiggy complement each other -- Swiggy Access facilitates easy expansion of restaurant brands across locations while BrandWorks helps restaurant partners expand their brand portfolio using existing kitchen space and culinary abilities, he added. On being asked about the business model for BrandWorks, Bhatia told , "It is a variablised commission model." The idea is to co-create a brand using Swiggy's intelligence and insights and the brand ownership remains with the restaurant partners. It is through deep engagement and ongoing conversation with partners that these brands are created, he added. In similar vein, Bercos Managing Partner Kabir Advani on the launch of their latest delivery brand 'House of Chow' said, "Food delivery is a big part of the restaurant business today and it is crucial for us restaurateurs to tap into this demand to grow our businesses." By co-creating "our new delivery brand -- House of Chow -- our consumer base has grown without diluting our parent brand and the asset-light model eliminates risks of extending our brand portfolio. Truly a win-win proposition," he added. The restaurant owners are also exploring extending these brands into dine-in formats as well, the statement said. AKT HRS

Swiggy introduces 'BrandWorks' to co-create delivery brands with restaurants

<ul><li>Goldman Sachs maintained ‘Sell’ rating on <keyword id="95677" type="CITY" weightage="20" keywordseo="Jubilant-FoodWorks">Jubilant Foodworks</keyword>, which sells Domino’s pizza in India. </li><li>Aggressive growth plan of food delivery aggregators like <keyword id="6358977" type="UNKNOWN" weightage="20" keywordseo="swiggy">Swiggy</keyword> and <keyword id="830092" type="COMPANY" weightage="20" keywordseo="Zomato">Zomato</keyword> as a risk for Domino’s sales, according to analysts.</li><li>Swiggy is now delivering in over 200 Indian cities, while Zomato is in more than 300 cities. </li></ul>Indian foodtech giants Swiggy and Zomato both house Domino’s in their list of restaurants to order from, but it seems the aggressive growth plans of the two delivery firms will leave Domino’s hungry for revenue. The share price of Jubilant Foodworks, which sells Domino’s and Dunkin Donuts in India, has plunged over 12% in the last three months. Goldman Sachs maintained ‘Sell’ with a price of ₹1,129 for shares of Domino’s parent company Jubilant FoodWorks. It said, “Dominos will find it challenging to deliver double digit same-store sales growth in FY20/21,” citing risk from aggressive expansion of Swiggy and Zomato in smaller Indian cities. Domino’s has over 1,227 restaurants in over 270 cities. Jubilant Foodworks had reported an operational revenue of ₹35.3 billion in FY19 as compared to ₹29.8 billion in FY18. Meanwhile, ICICI Securities in its report has pointed out that the “aggressive discounting by food aggregators over the past few months continues to impact the dine-in industry and Jubilant Foodworks’ dine-ingrowth in the top-10 cities”. Swiggy is present in over 200 cities while Zomato has gone beyond 300 cities in India. Their deep dive approach into tier-2 and tier-3 cities could result in Indians preferring to order in instead of going to restaurants to eat, something that has helped Domino’s same store sales so far. In the US too, Domino’s saw a similar turn of events, with food delivery aggregators like DoorDash, UberEats, GrubHub with their deep discounts and variety of options, impacted the sales of Domino’s. In <a href="https://retail.economictimes.indiatimes.com/news/food-entertainment/food-services/dominos-hurt-as-delivery-firms-offer-more-choice-shares-fall-10-pct/68108049">February 2019</a>, the shares of Domino’s fell by 10% for the same reason. See Also: <a href="https://www.businessinsider.in/dominos-operator-jubilant-foodworks-launches-its-own-budget-chinese-food-chain-called-hongs-kitchen/articleshow/68390170.cms">From Domino’s to Hong’s Kitchen – India's Jubilant Foodworks enters the Chinese fast food segment with its own budget brand</a>

Swiggy and Zomato are eating into Domino's slice of profit

<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><keyword id="4085901" type="PERSON" weightage="20" keywordseo="Milkbasket">Milkbasket</keyword> has raised ₹200 million in venture debt from <keyword id="225032" type="PERSON" weightage="20" keywordseo="Sachin-Bansal">Sachin Bansal</keyword>’s firm <keyword id="7578713" type="UNKNOWN" weightage="20" keywordseo="bacq">BACQ</keyword>. </li><li>Earlier in March 2019, Milkbasket had announced the acquisition of Veggie India for an undisclosed amount. </li><li>The grocery space has been heating up in India, with Bigbasket joining the unicorn club and unicorn startup Swiggy having entered the segment.</li></ul><keyword id="6354742" type="COMPANY" weightage="20" keywordseo="Flipkart">Flipkart</keyword> co-founder Sachin Bansal is back in the news. Bansal’s firm BACQ has invested venture debt worth ₹200 million into Milkbasket – a grocery delivery startup. Bansal, through BACQ, had earlier made an investment in digital lending platform Krazybee and a personal investment in Ola technologies. Venture debt is a type of debt financing given to early stage companies. "Milkbasket is now working on the next set of innovations to further consolidate its market leader position across it’s fresh (fruit &amp; vegetables) offering, automating the daily delivery supply chain and reducing go to market time for multi-city expansion. These funds would provide us the needed CAPEX and R&amp;D investments in all the three domains.” Anant Goel, co-founder and CEO, Milkbasket added. In March 2019, Milkbasket had acquired one-year-old startup Veggie India for an undisclosed amount. With the acquisition, the founders of the Noida-based Veggie India Jainendra Upadhyay and Shailendra Upadhyay as well as all of their employees had joined Milkbasket. The Gurugram-based startup Milkbasket had earlier raised about $16 million from Mayfield Advisors, Beenext, Kalaari Capital, Unilever Ventures, Lenovo and Blume Ventures at a <a href="https://www.vccircle.com/mayfield-leads-milkbasket-s-extended-series-a-round/">reported</a> valuation of $30 million. According to CRISIL, the online retail market in India is expected to grow 250% to touch ₹1.8 trillion by 2020 fiscal. The Indian grocery market has become a hot sector with bigwigs joining in the race. Milkbasket, which earlier focussed on delivery of milk and dairy products, had expanded its business to begin grocery delivery. Foodtech unicorn Swiggy too had announced its entry in the segment with Swiggy stores. One of the leaders in the space, Bigbasket had joined the unicorn club in March 2019 with a $2.3 billion valuation. See Also: <a href="https://www.businessinsider.in/bigbasket-joins-unicorn-club-with-a-fresh-investment-of-150-million/articleshow/68624890.cms">Indian grocery startup Bigbasket enters the unicorn club with a reported $2.3 billion valuation</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>

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

Sanchita Dash

After Chinese investors, online food delivery startup Swiggy gets attention from Amazon India

BI India Bureau

Swiggy begins home delivery of alcohol, starts from Ranchi

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Swiggy to expand cloud kitchens to 12 new cities by March 2020

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Zomato will likely stay ahead of rival Swiggy in latest round of valuations

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Swiggy introduces 'BrandWorks' to co-create delivery brands with restaurants

PTI

Swiggy and Zomato are eating into Domino's slice of profit

Sanchita Dash

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

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Sachin Bansal adds more to his cart, invests ₹200 million in Milkbasket

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