Reports say the company will deliver groceries and medicines to users-
Swiggy may soon be announcing a service called ‘Dash’, under which the company will deliver grocery and medicines. The venture might help optimise the costs of running their fleet of delivery vehicles.
The spokesperson reported ET, “While several categories have been discussed, they may start with medicines and then on to groceries.” Not only will such an endeavor diversify Swiggy’s portfolio, but the move is also aimed to boost delivery volumes.
If a volume is a keyword, then Meituan-Dianping probably had a part to play in this decision. As a key investor in Swiggy, it can be reasonably assumed that they’re looking to apply their business model from China to Swiggy’s India operations. It includes offering deliveries and services across numerous categories, including groceries, cabs, personal services, and payments.
Swiggy currently has a workforce of approximately 30,000 delivery personnel and they plan on maximising their output by increasing the avenues for delivery. Their focus is going to be on afternoons, particularly between 2 pm and 6 pm. According to reports, ‘Dash’ should be live in the next couple of months.
The move comes at a time when Swiggy is in conversation with Coatue Management and DST Global, both global investment companies, to raise $200 million. The influx of resources has the potential to increase Swiggy’s valuation to over $1 billion.
Statistics suggest that Swiggy already handles over 7 million orders each month across 35,000 restaurants. In comparison, Zomato claimed that they crossed the 5.5 million mark in India and the UAE last month.