With the new funding rounds, Swiggy will sharpen the focus on quick commerce, while Ola Electric will ramp up the production of its two-wheeler EVs.
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Between 2016 and 2021, local fintech firms raised over USD 16.5 billion, of which 60% of the capital flowed in the last three years.
The development comes barely a week after a dozen edtech firms came together to create and adopt a self-regulatory code of conduct.
BigBasket is reportedly working to roll out an express delivery service called BB Now to catch up with its existing and new rivals—all of which are now focusing on quick commerce.