Swiggy

Over the last few weeks, Swiggy, Zomato, and Amazon have raised money to strengthen their e-grocery business in the country.

The delivery fleet of food tech companies is largely sitting idle as restaurants remain closed during the 21-day national lockdown.

The competition in India’s food tech industry was reduced to a duopoly when Zomato acquired Uber Eats India in January this year for USD 350 million.

Samsung Venture kicked off investments in India in July 2019 and plans to invest in 100 startups over the next five years,

Swiggy plans to use the new funds to expand its hyperlocal delivery services, Swiggy Stores, Swiggy Go, and SuprDaily.

Swiggy has partnered with 95 restaurants in 13 cities and has already set up 100 brands under its new BrandWorks cloud kitchen tag.

Zomato-Uber Eats will collectively have 52% market share in India.

Swiggy said it has opened 1,000 cloud kitchens lat year.