Swiggy, India's fastest growing food ordering and delivery company, on Tuesday said that it is moving beyond food ordering space to delivery of household essentials such as groceries. The new service 'Swiggy Stores' will be accessible on its mobile app and will allow users to order anything from groceries, medicines, vegetables, meat, kirana and other everyday essentials. The company is likely to face stiff competition from online grocers such as BigBasket, Grofers and Amazon.
The Bengaluru-based startup, run by Bundl Technologies Pvt. Ltd, has inked a pact with over 3,500 stores in Gurgaon to deliver fruits and vegetables, kirana items, baby care products, health supplements and pet care products, Swiggy said in a statement.
The company, which runs a mobile-based application, has teamed up with stores both online and offline to deliver products at doorsteps. Some of partnered stores include, Super Needs Market, Le Marche, Licious, Zappfresh.com, Fernsnpetals, Apollo Pharmacy, and many others.
"We are taking our first step by launching across Gurgaon and will deliver from over 3,500 stores across the city. We have already partnered with over 200 stores in categories such as Fruits and Vegetables to Florists," Swiggy said.
This latest feather in Swiggy's cap comes less than a month after it raised USD 1 billion in its series H funding round - the largest-ever in the food-tech sector. The round was led by existing investor Naspers along with DST Global, Meituan Dianping and Coatue Management, while new investors like Tencent, Hillhouse Capital and Wellington Management Company also participated in it. With this round, the startup's valuation reportedly mushroomed five times to USD 3.3 billion in just one calendar year. To date, Swiggy has raised a total of USD 1.26 billion.
Last week, Swiggy announced that it has acqui-hired Kint.io, an artificial intelligence (AI) startup to help hyperlocal discovery and on-demand delivery, for an undisclosed sum.
Edited by Chitranjan Kumar