Food delivery giant Swiggy said that it will invest $700 million in its express grocery delivery service Instamart. Launched in Gurugram and Bengaluru in 2020, Swiggy Instamart is now serving customers across 18 cities, and doing over 1 million orders per week.
In the last few months, Swiggy Instatmart has on-boarded more than one seller-run dark store every day. By January 2022, it will make deliveries in 15 minutes by having the network of dark stores very close to the majority of its customers.
“At our current growth trajectory, Instamart is set to reach an annualised GMV (gross merchandise value)