Zooming in on hyperlocal delivery services, Swiggy has acquired Mumbai-based on-demand delivery company Scootsy in all-cash deal for an undisclosed amount. A Moneycontrol report pegs the amount at Rs 50 crore. Founded in 2015, Scootsy is a mobile app based intra-city delivery service in Mumbai that delivers items across categories food, bakery items, groceries, stationery, fashion items, home decor, curated craft items, gift stores, electronic stores amongst other things. The startup also does late-night delivery for emergency needs till 3 AM. In the late night time slot, it delivers select items like Maggi, OTC medicines, diapers, shaving cream, mosquito repellent, sanitary pads etc in approximately within one hour. Scootsy was incubated by Ant Farm, and was launched in 2015. In April 2017, the company raised funding of $3.6 million from Agnus Capital, and Singapore-based investment firm Khattar Holdings. According to media reports, Scootsy was going through a capital crunch owing to extensive cash burn involved in hyperlocal delivery business and did not pay salaries to its employees for three months. As a result, the number of riders reduced and impacted the deliveries. "With this acquisition, Swiggy will further strengthen Scootsy’s curated restaurant network and help the brand expand to newer cities on the back of its operational excellence and backend strength," Swiggy said in a statement. It also added that Scootsy will continue to operate as an independent app post the acquisition. After this deal, Scootsy will also expand more in Mumbai, and will foray into 4-5 major Indian cities in the coming…
- DoT to share a revised draft of the telecom bill in less than a month December 9, 2022
- Apple finally brings end-to-end encryption to iCloud Backups, Photos, and more December 9, 2022
- Protecting Personal Data: Where Grievance Redressal Falls Short December 9, 2022
- Latest developments in the ransomware attack on AIIMS-Delhi as it partially resumes server facilities December 8, 2022
- EPoS Systems at 5.33 Lakh PDS Shops in India, But No Response by Ministry on Device Failures December 8, 2022
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
By Soujanya Sridharan and Dr. Sarayu Natarajan Platform work and data: the intersection Every time you use a ride-hailing app, the matching algorithm processes...
New bill narrows focus over predecessors that went heavy on data sovereignty, localisation and compliance. What explains this change?
The Structure and Style of a Dogma Community: Conspiracy theories and organized Twitter engagement on Sushant Singh Rajput
Studying the 'community' supporting the late Sushant Singh Rajput (SSR) shows how Twitter was gamed through organized engagement
Do we have an enabling system for the National Data Governance Framework Policy (NDGFP) aiming to create a repository of non-personal data?
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...