Swiggy Acquires Mumbai-based on-demand Delivery Platform Scootsy
The emerging foodtech platform Swiggy that is consistently in news for a long time, has now announced the acquisition of a Mumbai-based on-demand delivery firm known as Scootsy.
The deal is a mostly-cash contract and this acquisition is worth about Rs 50 crore (under $8 million). This acquisition is expected to see Scootsy’s brand name being retained in Mumbai. However, it has not been clarified what the role of Scootsy’s founder team will be in the food delivery firm. It may happen that they join Swiggy’s management.
Scootsy is an on-demand delivery firm in Mumbai which was founded in 2015. It has secured about Rs 25 crore as of now from Agnus Capital and Khattar Holdings.
“The funding crunch has almost crippled Scootsy. The strength of riders has reduced impacting deliveries and the l...