Swiggy, a leading foodtech company, has introduced a new feature called “international login” that will allow customers who live overseas to order groceries and food for their loved ones in India. The feature will work in 27 countries, including the United States, Canada, Germany, the United Kingdom, Australia, and the United Arab Emirates. As the startup seeks to offer services to foreign clients who have previously used the app and its capabilities, this occurs throughout the holiday season.
According to Phani Kishan, Swiggy’s creator and CGO, “food and gifts are essential to family gatherings, especially during festivals. This occurs one day after Swiggy reportedly lowered its IPO’s $12.5–13.5 billion valuation objective.
Swiggy’s shareholders approved the company’s decision earlier this month to raise the size of its new public offering from INR 3,750 Cr to INR 5,000 Cr. Up to 18.53 Cr worth of shares will be offered for sale as part of the IPO.
According to Swiggy’s DRHP, a spike in operating expenses caused its consolidated net loss to increase by more than 8% to INR 611 Cr in the June quarter (Q1 FY25) from INR 564.08 Cr in the same time last year.
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