Swiggy May Invest Rs 680 Crore in Supr, Which Delivers Milk & Other Essential Items
Swiggy may invest Rs 680 crore in Supr, keeping in mind the competition in this space
Bengaluru, July 10: Swiggy may reportedly invest $100 million (over Rs 680 crore) for its subscription-based delivery business under Supr, which delivers milk and other daily essentials to consumers, according to an ET Retail News. Swiggy Stores' New Ad Shows a Pretty Relatable Scene in Every Woman's Life Viz-A-Viz Her Bra And Internet Is Giving Them A Thumbs Up (Watch Video).
Supr, which makes over 1 lakh deliveries daily in six cities, was acquired by Swiggy last year. Last month, Swiggy launched 'Swiggy Daily', an app for everyday homestyle meals prepared by home chefs, tiffin service providers and organised vendors. Swiggy Daily allows users to schedule their meals in advance or opt for a daily, weekly or monthly subscription.
The investment comes at a time when this space is seeing intense competition from vertical players like Milkbasket and Daily Ninja and horizontal players like BigBasket, said the report. Swiggy acquired Supr, but no official statement was released pertaining to this development.
(The above story first appeared on LatestLY on Jul 10, 2019 11:03 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).