Today in food commerce, Indian food delivery giant Swiggy raises $700 million, while Latin American grocery delivery startup Calii brings in $23 million. Plus, PYMNTS research reveals that grocers’ price increases could send shoppers running right into the arms of competitors.
Indian Food Delivery Giant Swiggy Raises $700M at $10.7B Valuation
Indian food delivery giant Swiggy raised $700 million and doubled its valuation to $10.7 billion. Backed by Softbank, Swiggy is just behind Zomato in the booming sector of fast delivery of food and groceries in India. Swiggy previously raised $1.25 billion in July, which gave it a valuation of $5.5 billion. Zomato went public in a $1.3 billion initial public offering (IPO) earlier this month.
Latam Grocery Delivery Platform Calii Raises $22.5M Series A
Grocery delivery startup Calii raised $22.5 million in a Series A funding round, bringing its fundraising to date to almost $35 million, as it strives to grow its position in the Latin American food delivery sector.
Price Increases Threaten Grocery Shopper Loyalty, Data Show
As inflation drives food prices up, grocers that shift the cost too quickly to consumers risk losing their most loosely held customers to competitors, revealed data from PYMNTS’ study “Decoding Customer Affinity: The Customer Loyalty to Merchants Survey 2022.”
Gorillas to Snap up Frichti for Bigger Slice of Food Delivery Pie
German rapid grocery startup Gorillas is working on a deal to acquire the French delivery firm Frichti for undisclosed terms. The combined entity would grow its footprint in the competitive food delivery space and give it the second-largest market share, 17.1%, for same-day grocery delivery in Paris, just ahead of Carrefour SA and behind leader Casino Guichard-Perrachon, according to Nielsen data.
Snack Giant Utz Acquires Clem, J&D
Snack maker Utz announced it will acquire two of its New York City-based distributors. The Pennsylvania chip and pretzel maker said it had signed an agreement to acquire the assets of Clem Snacks based in Brooklyn and servicing around 100 stores in the city and Long Island, and J&D Snacks, a 25-route distributor based in the Bronx. The two companies are what’s known as direct store delivery (DSD) distributors of Utz’s products.
NYC Mayor Adams: Third-Party Food Delivery Apps Must Now Be Licensed
Starting Monday (Jan. 24), third-party food delivery apps will have to be licensed to operate in New York City, Mayor Eric Adams and Department of Consumer and Worker Protection (DCWP) Commissioner Peter A. Hatch said in a press release.
Grocers Must Connect the Digital Dots or Risk Losing Customers to Competitors
“We see the impact of not being digitized and connected — we see the impact in their customer loyalty … [and] in general customer experience and satisfaction,” Guy Bloch, CEO of delivery and fulfillment cloud platform Bringg, told PYMNTS.
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