IPO-bound food delivery giant introduces international ordering from 27 countries and partners with PharmEasy for quick medicine delivery, marking strategic expansion ahead of public listing
In a significant move to broaden its service offerings, Swiggy has unveiled two major initiatives: an ‘International Login’ feature enabling users from 27 countries to order food and groceries for their loved ones in India, and a pioneering 10-minute medicine delivery service in partnership with PharmEasy. These developments come as the company prepares for its upcoming initial public offering (IPO).
The international login feature, launched during the festive season, allows users from countries including the US, UK, Canada, Germany, Australia, and the UAE to access Swiggy’s full range of services. Simultaneously, the company has begun piloting its quick medicine delivery service in Bengaluru, marking its entry into the competitive e-pharmacy sector.
Global Reach and Innovation
The ‘International Login’ feature represents a strategic move to tap into the Indian diaspora market, allowing international users to order food, groceries through Instamart, and make restaurant reservations via Dineout using international credit cards and UPI payment options. This service addresses a long-standing demand from Swiggy’s global user base, particularly during festive seasons and special occasions.
Medicine Delivery Partnership
Through its collaboration with PharmEasy, Swiggy is piloting a unique “shop-in-shop” model within its Instamart dark stores, enabling 10-minute delivery of both over-the-counter and prescription medications. The service allows customers to upload prescriptions or obtain them through PharmEasy’s doctor consultations, creating a seamless healthcare delivery experience.
Financial Performance and Growth
The expansion comes at a crucial time for Swiggy, which has shown strong financial performance:
– Operating revenue increased 36% to ₹11,247.3 Cr in FY24
– Losses narrowed by 44% to ₹2,350 Cr in FY24
– The company is targeting an IPO valuation between $12.5-13.5 Bn
– Platform fee recently increased to ₹10 from ₹7 per order
Market Impact and Future Prospects
These initiatives position Swiggy to compete more effectively in the evolving quick commerce and healthcare delivery sectors. The international login feature opens up new revenue streams from the global market, while the medicine delivery service puts Swiggy in direct competition with established players like Tata’s 1mg and Apollo Pharmacy’s online platform.
“Food and gifts are essential to family gatherings, especially during festivals,” noted Phani Kishan, cofounder and CGO of Swiggy, highlighting the strategic timing of the international feature launch. The company plans to enhance the service with a new gifting layout specifically designed for NRI users.
Implications for Indian Startup Ecosystem
These developments signify the growing maturity of India’s startup ecosystem, particularly in the quick commerce sector. Swiggy’s ability to innovate and expand its service offerings while preparing for an IPO demonstrates the evolving nature of Indian startups from single-service providers to multi-faceted technology platforms.
The combination of international reach and quick commerce capabilities could set new standards for service delivery in the Indian startup ecosystem, potentially inspiring similar innovations from other players. As Swiggy moves toward its public listing, these strategic expansions could serve as a blueprint for other startups looking to scale their operations globally while maintaining strong local market presence.
