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Swiggy Expands its Services to 500 Cities in India

“Our growing fleet of over 2.1 lakh active delivery partners have more income opportunities due to the scale and offerings of Swiggy,” Sunder said

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Swiggy
Swiggy will use the funds to bring more quality food brands closer to consumers.

From Gujarat’s Himmatnagar to Assam’s Jorhat, food delivery platform Swiggy has expanded its services to 500 cities in India, matching rival Zomato’s reach in the country.

Unveiling its plan on Monday, Swiggy, which has added 60,000 new restaurants in the past six months, said it would expand to 600 cities by December 2019.

“With presence in 500 cities and 75 universities, Swiggy already has the widest reach in the country. We will further expand this to 600 cities and 200 universities by December 2019,” Swiggy’s Chief Operating Officer Vivek Sunder said in a statement.

“Swiggy’s vision is to elevate the quality of life of consumers by offering unparalleled convenience. As we work towards enabling this for a billion Indians, expanding to tier-3 and tier-4 cities is a critical step,” Sunder said.

Swiggy has progressed from launching in one city every two months in early 2018 to launching in four cities a day in the month of September.

Swiggy
Founded in 2014, Swiggy claims to have 50,000 restaurant partners

With this expansion, over 350 million or one in four Indians can now access the food delivery platform in the country, Swiggy said.

Since April 2019, Swiggy has increased the number of restaurant partners by almost 1.8 times to 1.4 lakh restaurants currently.

In tier-3 and tier-4 cities specifically, Swiggy has onboarded over 15,000 restaurants in the last six months.

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“Our growing fleet of over 2.1 lakh active delivery partners have more income opportunities due to the scale and offerings of Swiggy,” Sunder said.

In addition to expanding to smaller towns, Swiggy also announced that it has expanded its service to over 75 universities including IIT Roorkee, NIT Kurukshetra, IIT Kharagpur, NIT Calicut, BITS Pilani and Lovely Professional University among others. (IANS)

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Swiggy Receives $43 Million Funding as a Part of its Ongoing Series 1 Round

Media reports said on Monday that Zomato also raised $5 million from British investment manager Baillie Gifford's Pacific Horizon Investment Trust

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Swiggy
Swiggy is India's Fastest Growing Food Delivery Platform. Wikimedia Commons

Food delivery platform Swiggy on Monday announced it has received an additional $43 million funding as part of its ongoing Series I round.

The Series I round, initiated in February this year, earlier raised $113 million led by existing investor Prosus N.V., along with participation from Meituan Dianping and Wellington Management Company, the company said in a statement.

The size of the round now stands at $156 million. “As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board,” said Rahul Bothra, CFO, Swiggy.

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Swiggy
Food delivery platform Swiggy on Monday announced it has received an additional $43 million funding as part of its ongoing Series I round. Wikimedia Commons

“Our focus remains to execute on our vision while building a sustainable path to profitability, he added. Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated in this closing round.

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Media reports said on Monday that Zomato also raised $5 million from British investment manager Baillie Gifford’s Pacific Horizon Investment Trust. A query set to Zomato went unanswered. Zomato earlier raised $150 million from existing investor Ant Financial, an affiliate of Alibaba. (IANS)

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Swiggy Sets Up ‘Coronavirus Relief Fund’ For Safety and Welfare of Delivery Partners Along With Their Families

According to the company, through the fund, delivery partners are now covered with 'Income-Protection Insurance' where up to 14 days of income is insured if tested positive with COVID-19

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Swiggy
Swiggy aims to raise Rs 10 crore for this fund and has already raised over 4 crore through initial contributions from Swiggy founders and employees. Pixabay

Food delivery platform Swiggy on Tuesday said it has set up a relief fund called ‘Swiggy Hunger Savior Covid Relief Fund which will be used towards the safety and welfare of delivery partners and their families.

The corpus for the fund will be created by Swiggy with primary contributions from the founders, senior leaders, employees and investors, as well as donations from customers. Swiggy aims to raise Rs 10 crore for this fund and has already raised over 4 crore through initial contributions from Swiggy founders and employees.

To begin with, Sriharsha Majety, CEO at Swiggy, has committed 50 per cent of his annual salary towards this fund.

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“To assist our delivery heroes during these testing times, we have initiated this special fund which will be supported by Swiggy and our investors,” Majety said in a statement.

Covid-19, Coronavirus, Sars-Cov-2, Virus, Mouth Guard
Food delivery platform Swiggy on Tuesday said it has set up a relief fund called ‘Swiggy Hunger Savior Covid Relief Fund which will be used towards the safety and welfare of delivery partners and their families. Pixabay

According to the company, through the fund, delivery partners are now covered with ‘Income-Protection Insurance’ where up to 14 days of income is insured if tested positive with COVID-19.

The fund will also be used to provide sustenance support through food and grocery care packages to the partners and their families who are facing hardships.

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Additionally, parents and family members of the Delivery Partner currently not covered by existing medical insurance will also be covered by the fund towards medical or hospitalisation expenses related to COVID-19. (IANS)

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India’s Digital Payment’s Service PhonePe Integrates Swiggy on its Switch Platform

As a part of the launch, some exclusive offers will be available for PhonePe Switch users

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Swiggy
The service will be available across all 520 cities where Swiggy delivers food in India, PhonePe said. Wikimedia Commons

India’s leading digital payments platform PhonePe on Monday said it has integrated food delivery major Swiggy on its Switch platform.

With this partnership, PhonePe’s 200 million registered users can now access the Swiggy app and order their favourite food from within the PhonePe app itself.

The service will be available across all 520 cities where Swiggy delivers food in India, PhonePe said.

PhonePe Switch is a one-click entry point to a world of apps on the PhonePe platform.

It allows customers to seamlessly switch between PhonePe and their preferred food, grocery, health & fitness, shopping and travel and entertainment apps from within the PhonePe app itself.

Users can log in to these apps without downloading them, with a single tap. PhonePe Switch enables merchant partners to integrate their existing PWAs (progressive web apps) or mobile sites to the platform, and instantly reach out to the vast PhonePe user base.

“Through PhonePe Switch, our effort has been to build a partner app ecosystem, which offers our users a very convenient way to access and engage with multiple apps, while enabling faster customer acquisition and high engagement for our partners,” Rituraj Rautela, Head of PhonePe Switch, said in a statement.

PhonePe
India’s leading digital payments platform PhonePe on Monday said it has integrated food delivery major Swiggy on its Switch platform. Wikimedia Commons

“We are seeing excellent user traction since the launch of the PhonePe Switch and currently have over 100 partner apps live on Switch,” Rautela added. PhonePe users can place orders on Swiggy in a few simple steps.

All they need to do is: Open the PhonePe app and click on the Switch icon, Select the Swiggy app, Choose the restaurant they wish to order from, Select their favourite dishes and pay instantly.

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“Through this partnership, we are delighted to extend the convenience of food ordering and delivery to the PhonePe Switch platform and be a part of the ecosystem of apps and services it has created,” said Srivats TS, Vice President of Marketing at Swiggy.

As a part of the launch, some exclusive offers will be available for PhonePe Switch users. (IANS)