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Quick commerce boom: A look at top developments in rapid delivery space

Economic TimesEconomic Times · 11m ago
Quick commerce boom: A look at top developments in rapid delivery space
Medial

Several major players are planning to enter the quick commerce segment in India. Amazon India is set to launch its offering in early 2022 and is considering buying a stake in Swiggy's Instamart. BigBasket is pivoting to become a full-scale quick commerce platform, offering rapid deliveries. Swiggy has appointed a new CEO for Instamart and Bollywood superstar Amitabh Bachchan's family office has acquired a small stake in the company. Flipkart has introduced a quick delivery service called Minutes, while Zepto is looking to raise $310 million in funding. Ola is also planning to enter the dark stores space for quick commerce, and logistics companies like Ecom Express, Shadowfax, and Loadshare are venturing into the quick delivery business.

Flipkart’s supply chain head Hemant Badri to lead quick commerce business

Economic TimesEconomic Times · 1y ago
Flipkart’s supply chain head Hemant Badri to lead quick commerce business
Medial

Flipkart is set to launch its quick commerce offering in July, with Hemant Badri leading the initiative as the Senior Vice President and Head of Supply Chain. The company plans to establish a network of dark stores to support its quick commerce operations. Badri brings over three years of experience at Flipkart and previously worked at Unilever and Colgate Palmolive. This move by Flipkart comes as quick commerce companies like Blinkit and Zepto expand their product offerings beyond groceries. Talks of a potential deal between Flipkart and Zepto fell through, leading Zepto to seek a $500 million funding round. Swiggy, another Bengaluru-based company, recently integrated its Mall offering with its quick commerce division, Instamart. Swiggy is also preparing for an IPO later this year.

Zepto raises $340 Mn at $5 Bn valuation

EntrackrEntrackr · 11m ago
Zepto raises $340 Mn at $5 Bn valuation
Medial

Quick commerce company Zepto has raised $340 million in a follow-on financing round led by General Catalyst, with Dragon Fund and Epiq Capital joining as new investors. Existing investors, including StepStone, Lightspeed, DST, and Contrary, also increased their stakes. With this new funding, the company’s valuation has surged by nearly 40%, rising to $5 billion from $3.6 billion in June, when it raised $665 million in its Series F round. Zepto, has raised over $1 billion in 2024, $1.2 billion in the past 12 months, and more than $1.5 billion since its inception. “The rationale behind this follow-on financing was twofold,” said Aadit Palicha, co-founder and CEO of Zepto. “First, the opportunity to bring on a lead investor of Neeraj Arora’s caliber from General Catalyst was one we couldn’t pass up. Second, strengthening our balance sheet is a strategic move, especially as the company continues to deliver robust growth and operating leverage.” Zepto serves millions of customers by delivering over 10,000 products across various categories within 10 minutes through a network of delivery hubs nationwide. The Mumbai-based firm claims it has nearly achieved EBITDA positivity with 140% year-on-year growth and an annualized gross merchandise value of over $1 billion (Rs 8,300 crore). As of May 2024, it also reports that about 75% of its stores are fully EBITDA positive. In FY23, Zepto registered a 14-fold increase in revenue to Rs 2,024 crore, though its losses widened to Rs 1,272 crore. The quick commerce sector is becoming increasingly competitive with Flipkart’s recent entry and BigBasket’s full shift to rapid delivery. Additionally, e-commerce leader Amazon is expected to join the market early next year. Currently, Zomato-owned Blinkit has emerged as top player in the quick commerce followed by Swiggy Instamart, Zepto and Tata Digital-owned BigBasket.

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