The companies are attempting to boost their presence in the online delivery space
Swiggy and BigBasket are eyeing acquisitions of milk-delivery startups, according to a report by The Economic Times.
Swiggy is in initial discussions to buy Mumbai-based Supr Daily, sources told the paper.
BigBasket has held buyout talks with RainCan, Milk Basket and Daily Ninja. RainCan has, however, denied talks with BigBasket, the report said.
Moneycontrol couldn't independently verify the news.
Purchasing milk-delivery startups will boost number of deliveries per month for Swiggy and BigBasket. The frequency of orders could increase to 15-20 times from 4-5 times at present, the report added.
The acquisitions will also help Swiggy and BigBasket boost their presence in the increasingly competitive online grocery segment in India.
Both companies are cash-rich as they have recently received fresh rounds of funding.
In February, Swiggy received USD 100 million in a funding round led by Naspers. BigBasket is backed by Chinese online retailer Alibaba, and received USD 220 million in funding.BigBasket competitor Grofers too is cash-rich and is backed by Japanese conglomerate SoftBank Corp.Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.