Swiggy Faces Profitability Challenges Amid $53 Million Valuation and Expansion

Swiggy, a food delivery platform, has faced significant milestones and challenges on its journey. A pivotal moment came in mid-2015 when Swiggy raised $17 million in a Series B round led by Norwest Venture Partners, valuing the company at $53 million. Recently listed, Swiggy's path to profitability remains challenging. The company is also expanding its services by partnering with PharmEasy to deliver prescription drugs, currently piloting in Bengaluru. However, this move has sparked severe backlash on social media. Analysts at Equirus suggest that Swiggy and its competitor, Zomato, may diverge significantly over the next decade, similar to the divergence seen between Tencent and Alibaba in China. Additionally, Swiggy's Instamart is competing with Zomato's Blinkit in the quick commerce sector.