After raising $200 million from Temasek and Fidelity, Lenskart’s valuation stands at $5 billion. Meanwhile, Baron Capital bumped up its stake in Swiggy by 25% to $15.1 billion.
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An online marketplace for professionals is the company’s yet another attempt at building something of value, besides food delivery and quick commerce. There’s no telling whether it will work.
With its rivals present in just about 50 cities each, Swiggy Instamart could be looking at a first-mover advantage—or a dud.
Quick-commerce apps are likely to run into regulations and poor order volumes as they try to grow this business.