Swiggy, India’s most popular on-demand delivery service, announced today that it plans to invest USD 700 million in Instamart, its quick grocery delivery service. Swiggy Instamart, which began operations in Gurugram and Bangalore in 2020, today serves consumers in 18 cities and processes over 1 million orders each week.
Swiggy Instamart has added more than one seller-run dark store every day in the last few months. By January 2022, it will have a network of dark stores close to the bulk of its consumers, allowing it to make deliveries in 15 minutes.
Instamart aims to reach an annualised GMV run rate of USD 1 billion in the next three Quarters
“Instamart is on track to reach an annualised GMV run rate of USD 1 billion in the next three quarters if we continue on our present growth trajectory.” We’re very excited about our convenience mission coming to life in a big way,” said Sriharsha Majety, CEO, Instamart.
“With our food delivery business trending at a USD 3 billion annualised GMV run rate and Instamart’s super-charged growth, we’re very excited about our convenience mission coming to life in a big way,” said Majety.
The platform offers an assortment of products across categories like fresh fruits and vegetables, daily bread and eggs, cooking essentials, beverages, instant food and munchies, personal and baby care, home and cleaning, specially curated to suit the demand requirements of each location. It is available in Ahmedabad, Bangalore, Chennai, Coimbatore, Chandigarh, Delhi, Gurugram, Hyderabad, Indore, Jaipur, Kolkata, Kochi, Lucknow, Ludhiana, Mumbai, Noida, Pune and Vizag as early as 7 am and as late as 1 am.
