India's Swiggy to invest $700m in express grocery business Instamart

India's Swiggy to invest $700m in express grocery business Instamart

Foodtech major Swiggy on Thursday said it will invest $700 million in its express grocery delivery service Instamart, as it looks to double down on non-food delivery categories in the coming months.

The move signals Swiggy’s aspirations to grow its quick-commerce business, as competition in the 10-minute grocery delivery space heats up. Grofers, backed by archrival Zomato, also pivoted to a 10-minute grocery delivery model, earlier in August this year.

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