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Last Updated : May 30, 2018 03:53 PM IST | Source: Moneycontrol.com

Swiggy, BigBasket eyeing purchase of milk delivery startups: Report

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.

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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.

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First Published on May 30, 2018 03:53 pm
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