Swiggy plans to invest ₹1,000 crore in Scootsy, focusing on enhancing supply chain efficiency and value-added services.
Swiggy has announced a ₹1,000 crore investment in its supply chain subsidiary, Scootsy, through multiple tranches, as per a regulatory filing on Friday. Despite the investment, Scootsy will remain a wholly-owned subsidiary of Swiggy, with no change in shareholding.
Scootsy reported a turnover of ₹5,195.7 crore for the financial year ending March 31, 2024, reflecting significant growth from ₹3,686 crore in the previous year. The company specialises in warehouse management, value-added in-warehouse processing, and streamlined order fulfillment services for wholesalers and retailers.
This investment follows Swiggy’s ₹1,600 crore infusion in December, reinforcing its commitment to strengthening supply chain operations. Swiggy’s revenue from supply chain services surged 23% year-on-year, reaching ₹1,693 crore in the October-December quarter. The move is expected to further optimise logistics efficiency and bolster its market position.
