Swiggy delivers 232% surge in revenue as it expanded delivery footprint

INDIA – Food delivery startup Swiggy has seen an upward swing in revenue, recorded at US$60.2 million compared to US$18.1 million last year, reflecting its continued geographic expansion in the country. Total expenses more than doubled to US$117.8 million as compared to US$47.7 million last year while operational revenue saw significant growth, according to ET…

South Africa based Naspers plans further investment in Swiggy

INDIA - Naspers Ltd., Africa’s largest company by market value has indicated that it plans to further invest in the Indian food delivery business, Swiggy through its third fund-raising round of the year. According to a Bloomberg report, the funding will increase Naspers’ stake in Swiggy which is planning to raise US$600 million, its biggest…

Food delivery firms Swiggy, Zomato, UberEats delists 10,500 ‘unsafe’ restaurants

INDIA- Food delivery and ecommerce platforms Zomato, Swiggy, UberEats and Food Panda have abandoned and delisted 10,500 restaurants after failing to meet the food safety regulator’s requirements. According to ET Retail, the Food Safety and Standard Authority of India’s (FSSAI) review indicted that Zomato had delisted 2,500, Swiggy 4,000, Foodpanda 1,800, UberEats 2,000 partner hotels…

Swiggy to expand its cloud kitchen model to more cities over 2 years

INDIA - Food delivery firm Swiggy is looking to make significant investment in its cloud kitchen business by expanding to upto 40 cities over the next 2 years, ET Retail reports. Swiggy has expanded the platform under Swiggy Access to include 30 restaurants with 36 kitchens in 4 new cities including Delhi, Mumbai, Kolkata and…

Swiggy launches marketplace program ‘Swiggy Packaging Assist’ for restaurant partners

ASIA - Swiggy, the Indian online restaurant firm has launched 'Swiggy Packaging Assist', a marketplace program that connects restaurants with vendors of eco-friendly and food grade certified materials, reports ET Retail. Restaurants will be able to access a variety of packing solutions for their menu needs with about 30 products to begin with. These include…

China’s Tencent in talks to invest in India’s Swiggy in an upto US$700m funding

ASIA - Tencent, the Chinese investment company has joined several investors who want to invest in India’s food delivery platform Swiggy which is seeking to raise US$500-700 million. According to ET Retail, the talks which involve several existing and new investors may see an investment that could value Swiggy at US$2.5-3 billion ET Retail had…

FMCG startup QwikPik partners Swiggy to pilot delivery of its heat & eat pizzas

ASIA - QwikPik, a startup technology offering ready to serve snacks and meals has partnered with Swiggy for delivery of its food products in India, according to ET Retail. The partnership involves QwikPik Technology’s packaged food brand Yumlane through a pilot program across select locations in Mumbai with possibilities to extend the partnership across all…

Swiggy to extend its delivery service across hyperlocal delivery market by November

INDIA - Online delivery service, Swiggy is looking to expand its delivery services across the entire hyperlocal delivery market starting with a pilot program in Delhi-NCR, Bengaluru and Mumbai by November this year. This will widen its delivery diversification strategy as well as help with further optimization of its 55,000-member strong fleet, according to two…

FSSAI directs Swiggy, Zomato, UberEats to delist unlicensed eateries

INDIA - The Food Safety and Standards Authority of India (FSSAI) has directed food firms Swiggy, UberEats, Zomato to remove unregistered restaurants from their platforms, believed to supply sub-standard food. FSSAI has asked ten food firms to delist such restaurants that do not have a licence and submit report on the action taken along with…

Swiggy appoints former Amazon India executive as engineering head

INDIA - The online food delivery company, Swiggy has appointed Dale Vaz, former Amazon India engineering head as its new head of engineering and data sciences, ET Retail has revealed. Vaz brings in eleven years of experience from Amazon with his most recent role as the director of software engineering. He will be responsible for…