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Food delivery app Swiggy has come up with a new feature that promises to deliver snacks and beverages in under 15 minutes! Following Zepto’s roll-out of ‘SuperSaver’ which is designed to fuel its average order value (AOV), Swiggy has come out with Swiggy Cafe to deliver snacks and beverages in 15 minutes.
The option is currently available in a few localities in Bengaluru. Swiggy Cafe will offer coffee, milkshakes, and protein bars from brands like Blue Tokai and The Whole Truth. This service is currently in its pilot stage and available in a few localities in Bengaluru. Read on to learn more about Swiggy Cafe.
This marks Swiggy’s second effort at offering fast snack deliveries, following the launch of Instacafe which was initially tested to provide pre-prepared meals, snacks, and groceries via its stores in some parts of Bengaluru. Swiggy also offers instant delivery services with Instamart which can deliver groceries within a few minutes. The new Cafe option is currently available under the food delivery section on the Swiggy app, not on Instamart, and appears to be in its pilot phase.
This development coincides with Swiggy's preparations for its IPO. According to a recent report, the food delivery and quick commerce startup plans to seek shareholder approval to raise INR 5,000 crore through a fresh share issuance, up from the previously planned INR 3,750 crore.
Swiggy is reportedly targeting a valuation of $15 billion for the IPO, having last been valued at $10.7 billion. Despite its growth, Swiggy remains a loss-making company. In FY24, its revenue grew 36% year-on-year to INR 11,247 crore, while net losses reduced by 44% to INR 2,350 crore.
It was also reported recently that Swiggy is piloting a large order fleet in the Delhi NCR region. The startup has also introduced several new features on its app, including group ordering and 'incognito mode' for private orders.
