- Jun 15, 2018
Swiggy to acquire micro-delivery startup SuprDaily
Micro-delivery and milk-tech companies are catching the attention of the big fish, as Swiggy has reached an advanced stage of talks to acquire Mumbai-based company SuprDaily – which was earlier also in talks with BigBasket that ultimately went with another Pune-based startup, RainCan – and has proposed an offer consisting of equity and money to take over the company, the values of which can’t be ascertained at the moment. SuprDaily is planning to engage more effectively in the micro-delivery business; delivering milk and grocery, and even medicines. Swiggy has brought in about $250 million in investments from Naspers, Meituan-Dianping, Accel India, SAIF Partners, Bessemer, and several others. The reason for the acquisition is deemed to be exploitation of the loyalty created and enjoyed by micro-delivery firms through milk and other daily necessities.
Read more at entrackr.com