The youngest of all quick-commerce startups is going all out to lure customers with its standout yet cash-guzzling offerings. But is the strategy sustainable?
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It is becoming increasingly clear that the startup ecosystem is stuck with building for the top 3% of Indian society. Now consumption in even this rarefied segment is under pressure.
As food delivery plateaus and Instamart bleeds cash, Swiggy is banking on its 10-minute service to revive growth and rewrite its economics.
The fund seems convinced that technology-led businesses in India are overvalued and not good for making big exits. Instead, what is needed to return large sums of capital are investments in mature companies with a proven track record.