Instamart plans to deliver orders in 15 minutes through its dark stores network. Credit: Rowan Freeman / Unsplash.

Indian food delivery platform Swiggy is reportedly planning to invest $700m (Rs52.5bn) in Instamart, its instant grocery delivery service, with the objective of bolstering its non-food delivery categories.

Established last year in Gurgaon and Bengaluru cities, Swiggy’s Instamart is currently operating across some of the major Indian cities, including Ahmedabad, Chennai, Coimbatore, Chandigarh, Delhi, Gurugram, Hyderabad.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

It also operates in Indore, Jaipur, Kolkata, Kochi, Lucknow, Ludhiana, Pune, Vizag, Mumbai and Noida.

The company is said to have been delivering a wide variety of products, such as fresh fruits, vegetables, daily bread, eggs, beverages and cooking essentials.

Instamart is competing with other delivery companies, including Dunzo, Grofers, BigBakset and Zepto, which have recently entered the Indian grocery delivery space.

Swiggy CEO Sriharsha Majety said: “At our current growth trajectory, Instamart is set to reach an annualised GMV run rate of $1bn in the next three quarters.

“With our food delivery business trending at a $3bn annualised GMV run rate, and Instamart’s super-charged growth, we’re very excited about our convenience mission coming to life in a very big way.”

Recently, Swiggy’s Instamart has been delivering more than one million orders a week.

The company is said to have onboarded more than one seller-run dark store every day over the past few months. With this network, it plans to deliver orders in 15 minutes by next January.

In June, Swiggy and its partner Anra Technologies announced plans to start drone trials for food deliveries in India.