Swiggy has partnered with PharmEasy to deliver medicines in 10 minutes, as it aims to expand into the pharmacy sector.
According to Moneycontrol, sources say the initial pilot for this service is being run in Bengaluru. Customers can order pain relievers, fever medications, and other prescription drugs.
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Swiggy aims to expand in epharmacy
Notably, Swiggy’s Instamart already delivers basic OTC medicines like pain relief sprays and AYUSH products from FMCG brands. This new partnership aims to expand Swiggy’s role in the epharmacy market by offering a wider range of medications, including prescription drugs.
This move is part of quick commerce companies expanding their offerings to boost average order values (AOVs) and order volumes. Swiggy is behind Blinkit in AOV, with Blinkit leading the segment at INR 625 for the quarter ending June.
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Swiggy reduces IPO valuation to $13.5 Bn
Meanwhile, the development comes a day after Swiggy reduced its IPO valuation target to $12.5-13.5 Bn. Earlier this week, it raised its platform fee to INR 10 from INR 7 per order on its food delivery service.
Launched in 2014 by Sriharsha Majety, Nandan Reddy, Phani Kishan Addepalli, and Rahul Jaimini, Swiggy began as a food delivery service and eventually expanded into the quick commerce market with Instamart.
Financially, Swiggy reduced its loss by 44% to INR 2,350 Cr in FY24, compared to INR 4,179.3 Cr in FY23. Meanwhile, its operating revenue jumped 36% to INR 11,247.3 Cr in FY24 from INR 8,264.5 Cr last year, due to the growth of Swiggy Instamart.
