Mumbai: SwiggyThe food delivery platform said in an Instagram post that Instamart, an ultra-fast grocery delivery service, has crossed two million users transacting.

Instamart specializes in grocery delivery in 15-30 minutes. pilot service
was launched in August last year in Gurugram and Bangalore. It has since expanded to 17 cities, amid a push to grow the business.

Swiggy Cofounder and CEO Sriharsha Majetya
told ET in an interview in July That 25% of its revenue was coming from non-food delivery businesses, which will grow further over the next five years.

The company is investing a significant portion of its recently raised capital to expand its non-food delivery vertical. ET reported on September 28 that Swiggy
was in talks to close another financing round At a valuation of $10 billion, that’s twice as much as its previous round led by US asset manager Invesco, a potential re-rating exercise by market capitalization.

Rival Zomato also wants to tap into ultra-fast commerce, a segment that is attracting abundant investor capital globally. is a publicly listed company
In talks to invest up to $500 million In online grocery Strong Grofers, which also
rapid expansion Its ultra-fast commerce vertical, ET reported earlier this month. According to sources, Bengaluru-based Grofers can do 80,000-100,000 deliveries per day.

The Grofers deal, if it materialises, would be Zomato’s biggest investment in a company so far. The food delivery platform has committed $1 billion in investments over the next 1-2 years, the company said in its latest quarterly results announcement.

Following the online grocery boom following the coronavirus outbreak, platforms are opening small, quick-delivery warehouses – or dark stores – in densely populated areas from where orders can be received quickly.

of Mumbai zepto Quick Commerce also operates in the grocery category. This
Recently raised $60 million In a funding round led by US investment fund Glade Brooke Capital, which is also an investor in Zomato and US grocery startups instacart, Zepto is the only startup to offer this service as a core offering in a market dominated by big players like Instamart, Dunzo and Tata Group-backed. bigbasket,

stay high Technology And Startup News that matters. to subscribe Get the latest and must-read tech news in our daily newsletter, delivered straight to your inbox.