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Tag: swiggy

  • Delhi HC Notifies Zomato and CCI of NRAI’s Exclusion in Antitrust Investigation

    As part of an ongoing antitrust probe against the foodtech giant, the Delhi High Court (HC) has sent notice to Zomato and the Competition Commission of India (CCI).

    According to reports, the HC made the rulings at a hearing on a plea against the National Restaurant Association of India’s (NRAI) exclusion from the confidential ring during the investigation. The HC was also urged by the NRAI to examine the company’s confidentiality claims.

    What is Confidential Ring?

    The confidential ring was first introduced in 2022 and gives parties access to private documents or information about other parties in an inquiry so they can better defend themselves. The confidentiality ring aids regulators in quickly resolving complaints, subject to specific riders. Exclusion from the ring inhibits a petitioner’s capacity to make a defence.

    It is important to remember that in October 2024, the competition watchdog removed the NRAI from the ring after it had been first included. At the hearing on 21 April, Zomato’s lawyer allegedly argued that the NRAI should not be included in the confidential ring because it included companies that are competitors of the foodtech juggernaut.

    Issue to be Further Heard on 23 April

    The NRAI’s claim against Zomato was combined with a similar suit against Swiggy by the High Court bench, which was presided over by Justice Sachin Datta.

    In November of last year, the HC also sent out a notice on the Swiggy case. At its upcoming hearing on April 23, the HC will now consider both cases together. This news broke on the same day that the CCI upheld Zomato’s platform fees and delivery costs, ruling that they do not constitute an abuse of control.

    The most recent development occurs five months after a report stated both Zomato and rival Swiggy were found guilty internally by the competition commission. According to CCI, both businesses have limited market competition by favouring particular restaurant partners, in violation of competition regulations.

    CCI Putting a Strict Scanner of Zomato and Swiggy

    After NRAI filed a complaint in 2021, the CCI conducted an examination involving the two companies for over two years before issuing its antitrust decision. In its lawsuit, the industry association had said that the foodtech platforms participated in anticompetitive practices such as deep-discounting methods, bundling of services, exorbitant fees, delayed payment cycles and imposition of one-sided terms.

    As part of the confidential ring, the watchdog had already granted the NRAI restricted access to the antitrust report in April 2024. In the Karnataka High Court (HC), Zomato and Swiggy later contested the CCI’s order, claiming that the disclosures may cause the two businesses “irreparable commercial harm” even in the presence of confidentiality protections.

    The Karnataka High Court then ordered the watchdog to re-examine its ruling in June 2024, which cleared the path for the October 2024 verdict that barred the NRAI from the confidentiality ring. The restaurant body moved the Delhi HC as a result of this development.

  • 1.28 Cr Shares Are Allotted by Swiggy Under the ESOP Scheme

    The board of Swiggy, a well-known foodtech company, has authorised the distribution of 1.28 Cr equity shares through its employee stock option plan (ESOP). The Nomination and Remuneration Committee authorised the distribution of 12,896,462 equity shares under the Swiggy Employee Stock Option Plan 2024 to its qualified workers, according to the company’s regulatory filing dated April 21. The face value of the shares is INR 1, and the exercise price for the shares that were allotted was also INR 1 per share. Swiggy recently made an expansion investment of INR 1,000 crore in Scootsy Logistics, a subsidiary. In the prior quarter, 42% of Swiggy’s total revenue came from Scootsy Logistics. Swiggy has not yet submitted its Q4 FY25 financial statements for the final quarter of the previous fiscal year. The company reported a 31% year-over-year increase to INR 3,993 crore in Q3 FY25 from INR 3,049 crore in Q3 FY24. Swiggy’s losses increased 39.2% to INR 799 crore during the same time period as a result of its growth-orientated strategy.

    In Jan, Swiggy Allocated 2.61 Crore Shares to Employees

    On January 23, Swiggy said that 2.61 crore shares had been distributed under various employee stock ownership plan (ESOP) schemes. Under the Swiggy ESOP Plan 2015 & Swiggy ESOP Plan 2021, Swiggy announced that it had authorised the distribution of 2,61,93,411 equity shares of the company in response to eligible workers exercising their stock options. According to the document, this raised Swiggy’s paid-up equity share capital from INR 2.23 crore to INR 2.26 crore.

    Esop allocation, which was first popularised by IT services giants like Infosys, is particularly common in consumer online businesses. Before going public, these companies usually provide founders and top management more stock options as incentives. However, there may be a number of unintended consequences from the opportunity to create wealth for a larger group of workers.

    More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provide these plans to all employees.

    Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.

  • Swiggy Introduces ‘Pyng’ App to Address ‘Unmet Demand’ for Expert Services

    An online marketplace named Pyng was created by Swiggy to meet the growing yet unfulfilled needs of urban customers. These customers are frequently overloaded with internet searches for trustworthy, qualified experts. Customers will be able to connect with verified professionals through the app, such as financial advisers, astrologers and spiritual experts, event planners and entertainers, travel and leisure specialists, education and skill trainers, and health and wellness specialists. According to Swiggy, it will use cutting-edge AI, a carefully selected network of professionals, and a customer-focused strategy to provide more effective and reliable access to vetted specialists.

    Vibrant Features of Pyng

    According to Swiggy, Pyng will also provide a money-back guarantee in the event that customers are dissatisfied with the service. According to the firm, Pyng, which is AI-powered, makes customers’ lives easier by making it possible to find verified specialists quickly and easily in a safe, spam-free environment. Additionally, the app will have a clever AI assistant that can comprehend customer enquiries and suggest the best expert. Pyng has been quickly onboarding professionals since launching its selling app earlier this year. With more than 1000 professionals in more than 100 specialities, Pyng wants to revolutionise the way that people get professional advice by matching them with a wide variety of experts.

    The need for professional help—from tax planners and counsellors to yoga trainers—is expanding in both the personal and professional domains as today’s lives get more hectic, according to Nandan Reddy, co-founder and head of innovation at Swiggy. With Pyng, the company provides a dependable, spam-free platform for customers to interact with professionals they can trust. In addition to empowering individual providers, Pyng connects consumers with dependable professionals that give genuine value by curating demand for these specialised products. SNACC, SwigL, Instamart, and Swiggy Minis are just a few of the apps that Swiggy has lately released.

    A recent study conducted by SAP India and Dun & Bradstreet shows how Indian start-ups use cutting-edge technology to realise their full potential. The results show that more than 77% of start-ups spend money on cutting-edge technologies like blockchain, IoT, ML, and AI. In the era of digital disruption, Indian start-ups are aggressively using cutting-edge technologies to boost customer satisfaction, spur growth, and achieve operational efficiency. This pattern highlights how quickly technology is being adopted and innovated in India’s startup scene, which is currently rated third in the world behind China and the US. The fact that 40% of digital start-ups are based in Tier II and III cities, which are becoming innovation hotspots because of local talent and cost advantages, is another important finding of this study. India’s position as a major startup powerhouse is cemented by this tech-driven development, which is backed by strong corporate governance and a supportive regulatory framework.

  • Income Tax Department Issues INR 158 Cr Demand Notice to Swiggy

    The Income Tax (I-T) Department has issued a tax demand notice to foodtech giant Swiggy, requesting payment of an additional INR 158.25 Cr. According to Swiggy’s exchange filing, the company is accused of improperly taking deductions for “cancellation charges paid to merchants”. The violations include firstly, Section 37 of the Income Tax Act of 1961 prohibits cancellation charges paid to merchants. Secondly, the submission stated that interest income on the income tax refund had not been given for taxation. The supplementary demand notice, which was issued by the Central Circle of the IT department’s Bangalore office, covers the time frame of April 2021–March 2022. Swiggy stated that it is taking the required actions to safeguard its interests in the interim. Swiggy said it is pursuing the required actions to safeguard its interests through review and appeal since it feels it has compelling reasons against the order. Additionally, the foodtech company thinks that its “financials and operations” won’t be significantly impacted by the demand notice.

    Another Day at the Office for Swiggy

    The business has previously been served with tax notices. Just one week ago, the Income Tax Department office in TDS Circle, Bengaluru, sent Swiggy an income tax demand notice for INR 99 lakh for the April 2017–March 2018 period. A demand notice for INR 326.7 Cr was also issued by the GST department in 2023 to the Sriharsha Majety-led business for the July 2020–March 2022 period. The business has challenged the notice in an appeal. Zomato, Swiggy’s competitor, has also received a barrage of tax letters. An INR 401.70 Cr GST demand letter and an interest penalty of the same amount were sent to the Deepinder Goyal-led company in December of last year.

    Trouble Continues for Swiggy

    Swiggy has been attempting to fizz off fires on several fronts, and this is the latest blow from the tax authorities. The company’s bottom line has suffered due to excessive capital burn and fierce competition in the rapid commerce sector. In Q3 FY25, Swiggy’s net loss increased 39% to INR 799 Cr from INR 574.4 Cr in the same quarter last year. From INR 3,048.6 Cr in Q3 FY24 to INR 3,993.1 Cr in the reviewed quarter, operating revenue increased by 31%. The company’s shares have been declining due to growing losses and heightened competition. Year-to-date (YTD), the stock has dropped by almost 38%. BofA Securities downgraded Zomato and Swiggy this week, pointing to significant losses in rapid commerce and slower growth in their meal delivery business. The broking firm lowered Swiggy’s price target from INR 420 per share to INR 325 and downgraded its recommendation from “Buy” to “Underperform”.

  • Swiggy’s Rapid Commerce Profit Margins Suffer as Discounts and Expansion take Priority

    In the third quarter of the current fiscal year (Q3 FY25), Swiggy Instamart’s margins were negatively impacted by the growing rivalry in the rapid commerce market, as the company increased its investments to keep the competition at bay. The contribution margin for Swiggy Instamart decreased from -1.9% in the previous quarter (Q2FY25) to -4.6% during the reviewed quarter.  Higher growth investments, especially in user engagement and the expansion of darkstores across different areas, were cited by the company as the reasons for this reduction.

    It further stated that rising competition resulted in higher consumer incentives and higher client acquisition costs, which caused the contribution margin to decline.  Notably, the fast commerce segment’s adjusted EBITDA margin also decreased from -10.6% in the previous quarter to -14.8% in Q3 FY25. This decline was mostly caused by higher brand and performance marketing expenditures as well as a decline in the contribution margin.

    As structural changes take place, Swiggy anticipates that Instamart’s short-term margins will be range-bound. These gains will be fuelled by increased average order value, rising ad income, decreasing delivery costs as scale increases, and improved store cost efficiency.

    Nevertheless, Swiggy Instamart’s gross order value (GOV) increased by 15.5% on a quarter-over-quarter (QoQ) and 88.1% on an annual basis (YoY) to INR 3,907 Cr. In Q3 FY25, its monthly transacting users (MTUs) increased by 13.9% QoQ and 62.7% YoY to 7 Mn. Compared to INR 293 Cr during the same period last year, its adjusted revenue for the period was INR 603 Cr, a 105.8% increase. It increased 17.5% sequentially from INR 513 Cr in Q2 of FY25.

    Instamart Spreading its Wings

    On a sequential basis, Instamart recorded a mere 7.3% increase in the quantity of orders. This was explained by Swiggy as the “back-ended nature of store expansion.” The influence on order frequency is delayed when new stores open later in the quarter since new customer acquisition occurs at the end of the quarter.

    According to the company’s post-earnings teleconference, “A higher share of new customers results in a lower overall order frequency because order frequency doesn’t increase immediately for new users.” Notably, Swiggy Instamart increased the number of operational dark stores to 705 by adding 96 new ones in Q3 FY25. By contrast, rival and industry leader Blinkit expanded its shop count to 1,007 during the December quarter, adding 216 dark locations.

    Additionally, Swiggy has replaced some of its smaller locations, which were between 2,500 and 2,800 square feet, with larger locations that are between 3,500 and 4,500 square feet and have the capacity to hold up to 20,000 SKUs. The average store size increased from 3,200 square feet in Q2FY25 to 3,475 square feet in Q3FY25 as a result of this expansion, the business stated in a statement.

    This puts the business on schedule to meet its goal of having an active dark store footprint of 4 million square feet by March 2025. Co-founder and CEO of Swiggy, Sriharsha Majety, claims that while controlling overall growth, the company’s near-term expansion was fuelled by both geographic expansion and densification into outlying areas within already-existing towns. He continued in the call, “Most floor additions going forward will be aimed at managing overall category growth rather than entering entirely new areas.”

    Financial Performance of India’s Quick Commerce Sector

    It is important to note that, according to Zomato and Swiggy’s remarks following the release of their Q3 results, the December quarter was among the most competitive in the rapid commerce segments. The three major participants in the market, Zepto, Blinkit from Zomato, and Instamart, are well-funded and rapidly growing their networks.

    The rivalry has gotten more fierce since e-commerce behemoths Flipkart and Amazon entered the market, while JioMart and BigBasket have increased their emphasis on speedy transactions. Swiggy is optimistic that the additional stores will become successful, nevertheless.

    Overall profitability will increase as more stores stabilise and achieve steady-state unit economics; mature stores should see a 4-6% positive margin trend, according to the business. Store expenses, including fixed costs incurred prior to a store opening, usually last between 30 and 45 days, according to Majety.

    However, because of increased competition, the cost of acquiring new customers can vary depending on the category’s investment level. Even though there have been some challenges in this area, we are always refining our strategy to increase productivity. He thinks that if the category as a whole expands, the company’s costs associated with acquiring new customers will eventually decrease.

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  • 2.61 Cr Equity Shares Are Allotted by Swiggy Under ESOP Plans

    2.61 Cr equity shares have been distributed by listed foodtech giant Swiggy through its different employee stock option (ESOP) plans. Swiggy announced in an exchange filing on January 25 that the nominating and compensation committee had authorised the distribution of 2,61,93,411 equity shares of the firm in response to qualified workers exercising their stock options under the Swiggy ESOP Plans 2015 and 2021. Swiggy’s paid-up equity share capital rose from INR 2.23 Cr to INR 2.26 Cr after this allocation. The newly allotted shares are worth INR 1175.69 Cr, with Swiggy’s shares closing 2.7% lower on the BSE at INR 448.85 each on the last trading session of January 25.

    Swiggy’s ESOPs  

    Swiggy launched its sixth employee stock option plan (ESOP) liquidity program last year, valued at $65 million (about INR 543.5 crore), prior to its offering. In June 2018, Swiggy introduced the first ESOP program. In 2021, it then announced two ESOP liquidity programs valued between $35 and $40 million. In 2022 and 2023, the two tranches under this were finished. Recently, the firm managed by Sriharsha Majety released a new app called “SNACC,” which aims to provide a 15-minute food delivery service in specific areas of Bengaluru. Zomato then introduced Bistro, a 10-minute meal delivery service.

    According to a 2024 survey of 160 companies, 78% of them offered employee stock option plans (ESOPs) to their staff, a considerable increase from 59% in 2021. This indicates that ESOPs are becoming more and more popular among startup owners. More firms are now offering ESOPs to all employees, not only senior management, according to a survey done by Saison Capital, XA Network, and Carta. Compared to one in four in 2021, one in three firms now provides these plans to all employees.

    Furthermore, the median ESOP pool size grew from 9% in 2021 to 12.6% in 2024, and 90% of founders now talk about ESOPs with candidates during interviews or job offers, up from 75% in 2021. Additionally, the reasons for providing ESOPs have changed; in 2024, 40% of founders cited cost reductions, up from 28% in 2021.

    The founders cited the necessity to retain people as the second most important reason for putting these plans into action, behind creating a sense of ownership and company culture. Even with this increase, fewer than 30% of founders still fully understand the complexity of ESOPs, a percentage that hasn’t changed since 2021.

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  • Swiggy Receives MCA Approval to Include Sports Arm

    The corporate affairs ministry (MCA) has given foodtech giant Swiggy permission to incorporate Swiggy Sports Private Limited, its sports division. The company stated in an exchange filing on January 16 that the newly incorporated entity’s primary goals will be to engage in sports team ownership, management, talent development, event organisation, and facility operation; provide career services; acquire broadcasting and sponsorship rights; and promote sporting events using a variety of business models, among other activities.

    The approval follows a month after the foodtech major’s board approved the establishment of a new subsidiary to serve the sports and entertainment and recreation sectors. When Swiggy announced the establishment of the subsidiary in December, it stated that it was solely going to house the Mumbai pickleball team that it had purchased from the World Pickleball League (WPBL). According to Swiggy, the brand’s current connection in sports is restricted to owning the pickleball team’s rights in Mumbai, and there are no intentions to get further involved in sports.

    Swiggy Expanding its Network and Services

    The most recent development coincides with Swiggy‘s aggressive expansion into new markets and introduction of additional products. It just released its new “SNACC” app, which provides meal delivery in a few areas of Bengaluru in 15 minutes.  With the release of a new app called Pyng Professional last week, it also made an entry into the services marketplace business. In the meantime, Swiggy Scenes, a new service that allows customers to reserve parties and events at Swiggy’s partner restaurants, was introduced by the firm in December. Before that, Swiggy also unveiled “One BLCK,” a new premium invite-only membership club.

    In an attempt to cut down on food waste throughout its value chain, listed foodtech giant Swiggy has started a new campaign called “Swiggy Serves.” In an effort to combat hunger nationwide, Swiggy intends to redistribute excess food from its restaurant partners to underprivileged areas, the firm announced in a statement. The non-profit Robin Hood Army, based in Delhi NCR, has partnered with the Sriharsha Majety-led company on the Swiggy Serves project. By the end of 2030, it hopes to deliver 50 million meals to underprivileged communities. With the help of more than 126 restaurant partners, the two have already redistributed 2,000 meals among 33 locations as part of the recently established campaign’s trial.

    Zomato Also Catching Up

    Aiming to expand beyond its core food delivery services and hyper commerce, Zomato launched ‘District’ in August of last year with the goal of consolidating its going-out business, which includes eating and ticketing (movies and events). With this, Zomato entered a number of new markets under one corporate umbrella, including lifestyle services, sports ticketing, live events, retail, staycations, and more. Swiggy’s most recent move is expected to expand the rivalry between the two titans in rapid commerce beyond the food delivery industry.

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  • Regarding Zomato and Swiggy’s 10-minute Delivery Apps, NRAI Plans to Approach CCI

    The National Restaurant Association of India (NRAI) is expected to petition the Competition Commission of India (CCI) for intervention about the launch of the 10-minute meal delivery standalone apps, Bistro and Snacc, adding to the problems caused by Zomato and Swiggy’s anti-competitive conduct. According to a media story that quotes Sagar Daryani, the founder and CEO of Wow Momo, as well as the president of NRAI, NRAI is seriously considering pursuing legal action against both businesses. Daryani further stated that NRAI is not comfortable with Zomato and Swiggy selling food directly through Blinkit’s Bistro app and Swiggy’s Snacc app for speedy meal delivery, as well as with the two companies allegedly hiding consumer data.

     Daryani further emphasised that although these platforms have access to important customer data, they do not provide restaurant partners with this information. All of our data is at their disposal, yet they choose not to share it with us. There is total consumer masking for us. “Whether it’s data from a tea brand, biryani, or momo, we have no reason to believe they are not migrating our customers to the products they sell as private labels on their apps,” the journal said, quoting Daryani. The NRAI is concerned that Zomato and Swiggy may use this information to entice users to buy their goods via these apps.

    The startup led by Sriharsha Majety launched a new app earlier this week called “SNACC,” which aims to provide a 15-minute meal delivery service in a few areas of Bengaluru. Zomato then introduced its 15-minute meal delivery service. It is important to remember that in addition to being outspoken about its concerns about Zomato and Swiggy‘s business practices, the NRAI is also pursuing two lawsuits against the companies, claiming they have engaged in anti-competitive behaviour. In an effort to create a level playing field and safeguard eateries, delivery partners, and customers from potentially exploitative platform activities, NRAI requested just a day ago that the government provide industry status to the food services sector.

    The food delivery giants were accused by the association of anticompetitive activities in the past, including service bundling, excessive commissions, delayed payment cycles, and the imposition of one-sided terms. According to reports, the CCI discovered a few months ago that foodtech giants Swiggy and Zomato had violated competition regulations by favouring certain eateries through their relationships.

    Why there is a Need of Strict Guidelines

    Based on a complaint submitted by the National Restaurant Association of India (NRAI) in 2021, the CCI had previously investigated both businesses in 2022. This is the main reason why many consumer service and e-commerce businesses are either trying to enter or are already in the rapid commerce market. This trend reflects the shifting preferences of consumers, who now want their purchases delivered quickly. Amazon, Flipkart, JioMart from Reliance, and Tata BBNow are just a few of the companies that have recently entered the market. Better anti-competition policies and procedures are therefore required in order to guarantee these restaurant partners—particularly the smaller ones—fair play.

    Swiggy to Launch Instamart as a Stand-Alone App
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  • Swiggy will Release Instamart as a Stand-Alone App

    Group CEO and co-founder Sriharsha Majety told a media outlet that Swiggy, a food and grocery delivery service, plans to release its rapid commerce offering, Instamart, as a stand-alone app as part of its multi-app strategy in response to changing consumer preferences.

    Instamart will undoubtedly be available on the main Swiggy app. The business is aiming to target clients who are solely interested in a specific offering by releasing a different app. This strategy is similar to that of Chinese internet giants like Meituan and Alibaba, who combine a single app with a number of stand-alone apps designed for particular use cases.

    Swiggy is taking a zero-based approach to the market and is operating in an unknown area. Cross-pollination continues to have a significant impact on the Swiggy app thanks to its integrated membership program, card, etc. However, Swiggy co-founder and group CEO Sriharsha Majety told a media outlet on January 9 that Instamart has the ability to surpass food delivery in terms of user base.

    Swiggy developing several applications isn’t necessarily a novel tactic, Majety continued. The business has never referred to itself as a superapp. According to him, it is expanding on its strategy of having Supr Daily, Insanely Good, and Dineout as distinct apps.

    App to go Live in Few Weeks

    In a few weeks, a different Instamart app will launch. Majety added further, “In the early years, we did not see a world with more than 150 million users. Thanks to rapid commerce, we’re now looking at 300–500 million users.”

    75 cities now have Instamart, along with new categories. Items are selling more and more when more categories are added. However, even for the rapid commerce category, the organisation has only completed 5–10%. Majety further stated that if fast commerce is to surpass the food delivery industry in terms of user base, the brand wants to gain an early understanding at the 5-10% stage.

    According to Majety, the company’s plans for separate apps won’t have a big impact on its efforts to improve consumer recall. With this choice, the corporation is rarely making any new ground. There are numerous templates and businesses, and launching a distinct app is not a particularly novel experience. It is the same tool that customers are familiar with in a certain industry.

    Continue to Roll More Apps

    Snacc, Instamart, and Dineout will remain separate apps, according to Swiggy, but they will also coexist with the main app. According to media reports, Swiggy plans to release Pyng and another app for Rare in addition to these four.

    It makes sense for Rare to be a stand-alone app given its extremely specialised user base, which, according to a media report, will only make up a small portion of Swiggy‘s total user population. With its most recent launch, Pyng, Swiggy will provide carefully chosen professional services like yoga instructors, certified public accountants, and more. Yello was the original name of Pyng, but Swiggy has chosen to change the product’s name. Justdial and Pyng are comparable, but Pyng takes a more targeted approach.

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  • Swiggy Introduces Swiggy Serves to Combat Hunger and Food Waste

    In an attempt to cut down on food waste throughout its value chain, listed foodtech giant Swiggy has started a new campaign called “Swiggy Serves.” In an effort to combat hunger nationwide, Swiggy intends to redistribute excess food from its restaurant partners to underprivileged areas, the firm announced in a statement. The non-profit Robin Hood Army, based in Delhi NCR, has partnered with the Sriharsha Majety-led company on the Swiggy Serves project. By the end of 2030, it hopes to deliver 50 million meals to underprivileged communities. With the help of more than 126 restaurant partners, the two have already redistributed 2,000 meals among 33 locations as part of the recently established campaign’s trial.

    According to Rohit Kapoor, CEO of Swiggy’s food marketplace, the brand is already active in 33 cities and intends to expand this program to more locations. According to Swiggy, a number of well-known companies have joined the new effort, including Birayni By Kilo, Dana Choga, Vardhas, B.Tech Momos Wala, Samosa Singh, Babai Tiffins, Dosa Anna, and Urban Tandoor, among others.

    Similar Initiative was Launched by Zomato

    It is important to note that Zomato, Swiggy’s competitor, started a similar campaign in 2019 to combat hunger, malnutrition, and food waste in partnership with the nonprofit organisation Feeding India. The foodtech company led by Deepinder Goyal also purchased Feeding India in the same year. The Swiggy Serves campaign coincides with the foodtech giant’s transition from a single app to launching distinct applications for each of its products under the Swiggy name. Earlier today, a media outlet announced that Swiggy has extended its Instamart rapid commerce solution to 76 Indian cities. Additionally, the business intends to release a stand-alone Instamart app shortly.

    Swiggy Launched Snacc

    Earlier, Swiggy released a new app called Snacc that allows users to order meals, snacks, and beverages in as little as 15 minutes. The debut coincides with a race among Indian food delivery apps to deliver hot beverages and biryani to consumers’ doorsteps in less than ten to fifteen minutes. On January 7, Snacc, which has a bright fluorescent green background and dark blue writing, went online in a few areas of Bengaluru. The sources claim that Swiggy intends to expand the platform throughout the nation.

    Chocolate cookies, Indian breakfast, coffee, tea, eggs, rolls and sandwiches, lunches, cold drinks, egg puffs, and cheese Maggie are among the foods offered at Snacc. Prior to that, Swiggy announced in December that it had expanded Bolt, its 10-minute meal delivery service, to more than 400 cities and towns nationwide. For the first time, fresh food from consumers’ favourite restaurants is being delivered right to their door. According to Rohit Kapoor, CEO of Swiggy’s Food Marketplace, fries are crispy straight out of the packaging, ice creams remain frozen, and idlis arrive warm and fluffy.

    Swiggy Launches ‘Snacc’ for 15-Minute Food Delivery
    Swiggy launches ‘Snacc,’ a stand-alone app offering 15-minute food delivery, aiming to revolutionize the quick-service dining experience.
    StartupTalkyNitin Konde