Swiggy Raises $1.14B for Indian Market Expansion

Swiggy, a leading Indian food and grocery delivery giant, has secured a significant financial boost with a $1.14 billion fundraising through a qualified institutional placement. This strategic move aims to fuel Swiggys ambitious growth plans in the competitive Indian market, strengthen cash reserves, and support expansion efforts in both food delivery and quick commerce. The company, along with rivals Blinkit and Zepto, is investing heavily in infrastructure and customer acquisition in the rapidly expanding quick commerce sector. Swiggys successful fundraising could significantly impact its ability to capture a larger market share and introduce new services.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.