The war between food delivery companies is at the peak from the past few days and is expected to continue for a longer time. The companies are continuing to bag in big capital flows with Swiggy being the recent one to join the league.
According to the past news that we all know about Swiggy-Zomato war, with the investment of $210 million in its latest round of funding, Swiggy has reached the market valuation of $1.3 billion and has got the tag of Unicorn. Along with this, the big news is that company has exceeded Zomato in the market valuation of $1.1 billion after a $200 million funding round from Chinese online retailer Alibaba’s payment affiliate Ant Financial. Therefore, Swiggy is now leading the food delivery ecosystem.
“With this investment, we will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem,” said Sriharsha Majesty, CEO of Swiggy.
Comparing the stats of both the companies, Swiggy is at the top of the food delivery market in India with about 11 million monthly orders against Zomato at about 7 million monthly orders across India and UAE. On the other hand, UberEats clocks about 7,50,000 orders per month, FoodPanda about 1 million monthly orders according to the industry sources.
It is quite clearly visible that the food delivery service provider Swiggy is highly gaining from the last funding that it has raised from DST Global. Along with the expansion in different cities of the country, the company has also been successful in raising its market valuation.
Zomato, on the other hand, needs to tie its laces to keep in track with the emerging startup which is giving it a tough competition in terms of the customer base as well as financial matters.