BackSwiggy acquires on-demand delivery platform Scootsy
Swiggy will strengthen Scootsy's curated restaurant network and help the brand expand to newer cities using Swiggy's operations strength
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Mumbai: Food ordering and delivery platform Swiggy on Thursday said it has acquired Scootsy, an intracity delivery service provider in an all-cash deal. The value of the transaction was not disclosed.
Scootsy provides delivery services for restaurants, toys, beauty products and electronics items among others. “Scootsy is a well-loved brand that 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," Sriharsha Majety, chief executive at Swiggy said in a statement.
Swiggy will strengthen Scootsy’s curated restaurant network and help the brand expand to newer cities using Swiggy’s operational strength. Scootsy will continue to operate as an independent app post the acquisition.
“For Swiggy, the acquisition of Mumbai-based Scootsy is in line with its vision to provide a superior consumer experience and the widest restaurant choices for consumers. It will extend the breadth and selection of Swiggy’s existing network of 40,000 restaurants by adding more curated restaurants to it," the company said.
Scootsy was founded in 2015. Last year, it raised $3.6 million from Agnus Capital and Khattar Holdings.
The acquisition will enable Scootsy’s expansion across Mumbai and also support its foray into four to five major Indian cities in the coming months. “As we continue to evolve with our much-loved user experience, our users will benefit from Swiggy’s operational excellence and deep understanding of the ecosystem," said Sandeep Das, chief executive at Scootsy.
Swiggy, which started in August 2014, is one of the fastest Indian start-ups to reach a valuation of $1 billion. In June, Swiggy announced that it has raised $210 million from a group of investors, led by Naspers and billionaire Yuri Milner’s DST Global. The fundraise valued Swiggy at about $1.3 billion. China’s Meituan-Dianping has also invested in the latest funding round, along with new investor Coatue Management.
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