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Swiggy zooms in on hyperlocal delivery, acquires Scootsy

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…

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