Swiggy To Invest $700 Million In Express-Delivery Service Instamart

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The SoftBank-backed startup, which launched Instamart in two Indian cities in 2020, said on Thursday that the quick grocery delivery service is now available in 18 cities and clocking over a million orders per week. The startup, which was launched earlier this year, recently announced a $60 million fundraise and is already in talks to raise a much larger round, according to a source familiar with the matter. The startup is hoping to make its deliveries in 15 minutes by January 2022 by setting up the network of dark stores close to the majority of its customers, it said.