Co will make deliveries in 15 minutes at least in the top cities by January 2022. “Instamart is set to reach an annualised GMV run rate of $1 billion in the next three quarters,” says CEO Majety.
E-commerce firms delivering essential commodities faced many hassles on Day One of the 21-day national lockdown; they’re working with local authorities to resolve the issues.
India witnessed a record jump in total number of Covid-19 cases to 258 as 63 new cases were confirmed on Friday.
There is a new wave of consolidation across sectors in the economy. Should India be worried? Or, is it a rite of passage?
CEO Albinder Dhindsa says the company is planning to spend the money it raised earlier this year in acquiring more customers in the south and warehousing development.
While usage of electric vehicles is still at a nascent stage in the country, online retailers such as bigbasket, Grofers, and Flipkart are ramping up their EV fleet for last-mile delivery.
Swiggy, which started doorstep delivery of home essentials recently, has the advantage of an existing network. But it will take more for it to find its niche in a space led by Big Basket and Grofers.
The firm has been valued at about $1.6 billion in this round.
After a rollercoaster ride since its last big funding round, Grofers has managed to raise $62 million from the likes of SoftBank.
