India's top food delivery startup, Swiggy, said Friday it has started delivering meals in 10 minutes across parts of major cities, intensifying the quick-commerce race in the world's second largest internet market.
The Bengaluru-headquartered startup, targeting to go public in about a month, said it has partnered with more than 2,700 restaurants, including global chains KFC, McDonald's and Starbucks, to deliver meals to customers within 10 minutes.
A quick-service menu called Bolt will be available within a 2-kilometer radius from its customers. It basically focuses on fast-to-prepare items. According to Swiggy head of food delivery Rohit Kapoor, the service is in an attempt to cut down on waiting times for popularly ordered items like coffee, burgers, and biryani.
Ten years ago, Swiggy transformed food delivery by reducing wait times to an average of 30 minutes. Now we are further shortening the wait for frequently ordered items,\" he said in a statement.
Swiggy's Bolt is live in key locations across Bengaluru, Chennai, Hyderabad, New Delhi, Mumbai, and Pune, said the company, which competes with publicly listed Zomato.
The launch strengthens Zomato's and Instamart's Blinkit, Swiggy's quick-commerce offering, StepStone-backed Zepto, and Tata-owned BigBasket's dominance in India's fast-growing quick-commerce market, which has grown more than 100% in a year.
Quick-commerce players are slowly taking business away from e-commerce giants, claimed some analysts. The Indian online retailing giant Flipkart recently launched its own quick-commerce offering.
Swiggy said its delivery partners would not suffer penalties or receive incentives based on the time of Bolt orders as they aren't being informed of the distinction between Bolt and regular orders that are being delivered to millions of customers each month in 600 cities.