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Swiggy steps up quick commerce investment to Rs 1,179 crore, eyes 741 dark stores

Economic Times

Economic Times · 8m ago

Swiggy steps up quick commerce investment to Rs 1,179 crore, eyes 741 dark stores

Swiggy is investing Rs 1,179 crore in its quick-commerce business, Swiggy Instamart, to expand its dark store network. The company plans to open more dark stores in cities where it already operates, as well as expand into new cities in the future. This investment comes as competition in the quick commerce sector increases, with rivals like Zomato-owned Blinkit and Zepto raising capital for growth. The quick commerce market in India is expected to reach $22 billion in gross merchandise value by 2027. Swiggy Instamart, Blinkit, and Zepto currently dominate the market with over 85% market share.

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Related News

Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days'

Economic Times

Economic Times · 5m ago

Flipkart Minutes eyes 550 dark stores before ‘Big Billion Days'

Flipkart is aggressively expanding its quick commerce segment, planning to reach 500-550 dark stores by its Big Billion Days sale event this year. Currently, with 120-150 dark stores, this growth aims to challenge Zomato’s Blinkit, Zepto, and Swiggy Instamart. Flipkart is increasing its market presence in Bengaluru and high-value order segments like electronics. As competition intensifies, the quick commerce sector is projected to grow from $21 billion to $31 billion by FY27.

Inside Swiggy Instamart’s ‘Mega Dark Store’ Plan

Inc42 · 8m ago

Inside Swiggy Instamart’s ‘Mega Dark Store’ Plan

Swiggy is planning to expand its Instamart dark stores in order to offer a broader range of products and faster delivery times. The company aims to increase its SKU coverage and improve fulfillment efficiencies with larger dark stores. Swiggy is also focused on customer acquisition in the quick commerce industry, believing that convenience, product assortment, and customer experience will give them an edge. The average order value for Swiggy Instamart has shown significant growth, while the food delivery vertical has seen only a moderate increase. Swiggy is looking to catch up with competitors in the quick commerce space.

Ola plans to open dark stores to enter quick commerce sector: ET

Hindustan Times

Hindustan Times · 11m ago

Ola plans to open dark stores to enter quick commerce sector: ET

Ola Cabs parent ANI Technologies plans to set up dark stores to enter the growing quick commerce segment, The Economic Times reported. The EV company will reportedly offer dark stores as a service "where the whole setup will be delivered with significant automation". Dark stores are small neighbourhood warehouses which stock products delivered by quick commerce services.

Swiggy evaluating inventory model for Q-com, but won’t rush shift: Swiggy CFO Bothra

YourStory

YourStory · 2m ago

Swiggy evaluating inventory model for Q-com, but won’t rush shift: Swiggy CFO Bothra

Swiggy is considering a shift to an inventory-led model for its quick commerce, according to Group CFO Rahul Bothra. Despite significant growth, including a 19.5% rise in gross order value and doubling its revenue to Rs 733 crore, Swiggy faced losses of Rs 1,081 crore. Its quick commerce expansion saw the addition of 316 dark stores and an increase in average order value. Meanwhile, its dine-out segment turned profitable, noting a 31% year-over-year growth.

How dark stores are powering quick commerce's rise

Economic Times

Economic Times · 1y ago

How dark stores are powering quick commerce's rise

Dark stores, also known as micro warehouses, are the center of a new form of commerce called quick commerce. These stores, operated by companies like Zomato's Blinkit and Swiggy Instamart, store a limited number of high-demand products and aim to pack, dispatch, and deliver orders in minutes. Riders on e-bikes swarm the store, delivering orders with great speed. Dark stores are strategically designed to optimize packing time, with frequently ordered items stored up front. However, the gig workers employed by these companies have often complained about poor work conditions and low pay.

Swiggy may recover quick commerce share despite widening losses: Morgan Stanley

Economic Times

Economic Times · 1m ago

Swiggy may recover quick commerce share despite widening losses: Morgan Stanley

Morgan Stanley predicts a strong future for Swiggy’s quick commerce despite rising losses and expenditure. Swiggy's quick delivery service, Instamart, saw a 101% increase in gross order value, although adjusted Ebitda losses reached Rs 840 crore. The brokerage revised the quick commerce market's potential to $57 billion by 2030. Swiggy, with significant investments in infrastructure, plans to expand its network of dark stores and capitalize on growth, maintaining its market share amidst increasing competition.

Expecting very solid growth for next 3-5 years: Swiggy CEO Sriharsha Majety

Economic Times

Economic Times · 8m ago

Expecting very solid growth for next 3-5 years: Swiggy CEO Sriharsha Majety

Food delivery and quick-commerce company Swiggy anticipates strong growth in the next 3-5 years. The company plans to expand its geographical presence and stores network for its Instamart business. Swiggy CEO Sriharsha Majety stated that they have doubled the categories for quick commerce in the past year. Following its debut on the stock exchanges, Swiggy's share price rose significantly. The company's IPO received strong demand and its proceeds will be allocated towards technology investment, brand marketing, debt payment, inorganic growth, and general corporate purposes. Swiggy also aims to open larger dark stores and emphasizes compliance with laws and regulations amid a reported CCI probe.

Blinkit unit economics hit in July-September on back of investment ramp up

Economic Times

Economic Times · 8m ago

Blinkit unit economics hit in July-September on back of investment ramp up

Zomato's quick commerce platform Blinkit experienced a decline in margins during the July-September quarter due to increased investment in infrastructure expansion. The company reported an adjusted EBITDA loss of Rs 8 crore, compared to a loss of Rs 3 crore in the previous quarter. The lack of margin improvement was attributed to investments made in scaling up infrastructure, including new stores and warehouses. Blinkit aims to have 1,000 dark stores by the end of this fiscal and 2,000 dark stores by the end of 2026, while also expanding into tier-II and tier-III cities.

Blinkit gets Rs 1,500-crore cash boost from Zomato

Economic Times

Economic Times · 4m ago

Blinkit gets Rs 1,500-crore cash boost from Zomato

India's leading quick commerce platform, Blinkit, received a Rs 1,500 crore investment from parent company Zomato, totaling Rs 4,300 crore since its acquisition in August 2022. This infusion aids Blinkit's financial losses amid aggressive expansion and competition. Despite operational revenue covering needs, expansion costs cause high cash burn. Blinkit targets 2,000 dark stores by December 2025, ahead of competition like Swiggy and Zepto. Rapid expansion in the sector intensifies cash burn and financial losses for companies.

Tiger Global conducts due diligence of Zepto dark stores as it eyes quick commerce

Economic Times

Economic Times · 9m ago

Tiger Global conducts due diligence of Zepto dark stores as it eyes quick commerce

Tiger Global, a US investor, is showing strong interest in Indian startup Zepto and is conducting due diligence at the startup's dark stores in the city. Zepto is now valued at $5 billion and is seen as a potential player in the quick commerce sector in India. Tiger Global is considering engaging with Zepto for future funding rounds before an IPO. The quick commerce sector in India is growing rapidly, with Zepto challenging market leader Blinkit owned by Zomato. Other players in the sector include Swiggy Instamart and BigBasket.

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