Serving the underserved

Swiggy, with about US$1.45 billion raised in 2018, has expanded to 60 Indian cities with a network of 55,000 restaurant partners and a fleet of over 120,000 delivery drivers.

The food-tech startup has emerged as one of the top companies in the highly competitive Indian hyper-local food-delivery market, according to a report by ResearchAndMarkets.

Despite fierce competition and high operating costs, Swiggy registered strong growth in operating revenues and order volumes through FY 2018, said the report “Success Case Study: Swiggy Food Delivery – A disruptive food-tech start-up that has revolutionized the food delivery space in India”.

The company raised about US$1.45 billion in funds through 2018, making it one of the most valuable food tech start-ups in the country.

Swiggy has identified an underserved need for convenient and more personalized food-delivery services among net-savvy urban Indians, according to the report.

The company adopted a data-driven and customer-centric approach to executing orders in a timely and dependable manner.

Swiggy has gained a strong following through its constant commitment to refining its user experience and develop innovative service offerings to fulfill various consumer needs.

There is strong demand for hyperlocal services that offer convenience and time savings to consumers with consistent quality and reliability.

Food delivery services need to shift focus from customer acquisition to customer retention, said the report.

The report covered Bundl Technologies, Swiggy, Zomato, Dazo, SpoonJoy and Yumist, TinyOwl, Foodpanda, UberEATS, Kint.io, 48East, Accel Partners, SAIF Partners, Norwest Venture Partners (NVP), RB Investments, NVP, Naspers, Tencent, Hillhouse, Bessemer Venture Partners, Meituan-Dianping, DST Global, Coatue, Facebook, Instagram, Twitter and YouTube. fiinews.com