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Coca-Cola, Jubilant and Thrive + Swiggy’s new experiment
The food-tech startup has managed to attract investments from two food giants in three years and Swiggy has kicked off a new quick commerce chapter.
21 April, 2023•5 min
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21 April, 2023•5 min
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Editor's note: This week, Coca-Cola made a surprising move, its first-ever investment in an Indian startup. The American drinks company acquired a 15% stake in the three-year-old food-tech startup Thrive. From the press release: “Coca-Cola India is delighted to partner with the Thrive Now ecosystem as we see digital capability as an essential multiplier for our India growth strategy,” said Greishma Singh, vice president, customer and commercial leadership, Coca-Cola India and Southwest Asia. What is even more surprising is that this is the second investment by a food giant in Thrive. In 2021, the startup had raised $2.5 million in a Series A funding round led by Jubilant FoodWorks, the company that runs Domino’s and Dunkin’ Donuts restaurants in India. For a young startup to have attracted the attention of two big food conglomerates, this seems like a commendable feat. It also raises the question of Thrive’s appeal. It certainly is a fascinating business. Thrive provides tech solutions to restaurants—from online food ordering and digital menus to taking reservations and food delivery (via third-party logistics providers). There are even some built-in marketing …
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