Swiggy focusing on rapid diversification with the launch of Swiggy XL
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Swiggy launches Swiggy XL for offering bulk order services in selected localities of Bangalore.
To order food from Swiggy XL minimum order size is Rs. 2,000
Swiggy raised $1 Billion from South African Technology conglomerate Naspers in December 2018
Swiggy is valued $3 Billion food delivery giant.
Online food ordering and delivery unicorn Swiggy after having a grand entry in hyperlocal delivery space is now diversifying its business by the launch of Swiggy XL for offering bulk order services in selected localities of Bangalore. Swiggy has made this move to deliver larger orders for corporate events and house parties. The beta form of service is currently live having only a few restaurants that have the big kitchen size to manage large orders. Recently to order food from Swiggy XL minimum order size is Rs. 2,000 and service promises three hours delivery.
Swiggy was receiving a lot of request for huge orders; therefore, it has initiated this facility in few of sectors of Bangalore and has not yet launched the full version of Swiggy XL because initially, it is trying to take reviews from customers and restaurants.
According to a report in Economic Times in October 2018, Swiggy initiated new facility named Swiggy Cafe that was focused to digitize corporate cafeterias. It worked for three months in great pace as it offered employees to order lunch from selected cafeterias in corporate parks of Bangalore via Swiggy app but is not seen more in action now.
Swiggy is continuously enhancing its business by raising huge funds from investors. In December last year, it raised $1 Billion from South African Technology conglomerate Naspers.
It is one of the single largest funds in Indian startup till now. Post this fund Swiggy was valued $3 Billion. Other investors who have taken interest in fueling Swiggy so far are Hillhouse capital a Chinese Conglomerate Tencent, DST Global a Wellington Management Company, Coatue Management, and Meituan Dianping.
Swiggy is currently providing its services in more than 80 cities of India. It is giving great competition to Zomato, UberEats, and Foodpanda in order and food delivery industry. Swiggy along with Zomato made the net sale of Rs. 470 Crore in the Financial year 2017-18 and sales of Swiggy was more than triple than previous year’s.
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