India: Swiggy acquires on-demand delivery startup Scootsy

By Pramugdha Mamgain

August 2, 2018

Online food ordering and delivery platform Swiggy on Thursday said it has acquired Mumbai-based on-demand delivery platform Scootsy in an all-cash deal.

Though the company did not share the deal size, the acquisition is reportedly valued at Rs 50 crore.

“With this acquisition, Swiggy will strengthen Scootsy’s curated restaurant network and help the brand expand to newer cities on the back of its operational excellence and backend strength,” the company said in a statement.

Incubated by Ant Farm and launched in 2015 by former Burrp COO Sandeep Das and Rishi Khiani, Scootsy will continue to operate as an independent app following the acquisition. The acquisition of Scootsy will extend the breadth and selection of Swiggy’s existing network of 40,000 restaurant partners in 17 cities, by adding more curated restaurants to it, Swiggy said.

Scootsy raised $3.6 million in a pre-series A round of funding led by Agnus Capital, the family office of promoters of Stride Group, and Khattar Holdings in April last year.

“Scootsy enjoys loyalty from both its restaurant partners and the consumer. With a shared belief of providing a superior user experience, its addition will extend the convenience and reliability that Swiggy is synonymous with,” said Sriharsha Majety, CEO, Swiggy.

Swiggy had also acquired 48East, a Bengaluru-based Asian food ordering startup, in December last year. The company attained the unicorn status (startup with valuation of $1 billion or more) after raising a $210 million funding round led by Naspers and billionaire Yuri Milner’s DST Global in June this year. It has raised about $465 million till date, according to Mint research.

Founded in August 2014, Swiggy operates in 15 cities including Bengaluru, Delhi, Mumbai, Pune, Hyderabad and Kolkata. It claims to have more than 35,000 restaurant partners on its platform and a delivery fleet of over 40,000.

Also Read:

India: Ola-owned Foodpanda in advanced talks to acquire Holachef

The journey of how Swiggy became India’s fastest unicorn

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW