IPO-Bound Swiggy Launches ‘Bolt’ for 10-Minute Food Delivery, ‘XL’ Fleet for Bulk Orders
Swiggy has filed its updated draft papers with markets regulator Sebi to raise funds through its much-anticipated Rs 10,000-crore IPO.
The launch of Swiggy ‘XL’ fleet comes a day after the company announced the launch of its 10-minute meals and beverages delivery service ‘Bolt’.
IPO-bound food tech platform Swiggy on Saturday launched its bulk order ‘XL’ fleet to serve large orders in one go. It comes a day after the company announced the launch of its 10-minute meals and beverages delivery service ‘Bolt’.
Swiggy Bolt
The Bolt is already operational in key locations across six major cities — Hyderabad, Mumbai, Delhi, Pune, Chennai, and Bangalore, and it will expand into more areas in the coming weeks. Bolt offers quick food delivery service from select restaurants within a 2 km radius of the consumer.
“The service will continue to expand into additional areas in the coming weeks,” Swiggy stated.
Bolt offers popular dishes like burgers, hot beverages, cold beverages, breakfast items, and biryani that require minimum preparation time.
It will also focus on ready-to-pack dishes like ice cream, sweets and snacks, Swiggy said.
Notably, delivery partners are not informed of the distinction between Bolt and regular orders, meaning they are neither penalised nor incentivised based on delivery time, the food tech major shared.
Rohit Kapoor, CEO of Swiggy’s Food Marketplace, said: “Bolt is the next evolution in our mission to provide unmatched convenience. Ten years ago, Swiggy revolutionised food delivery by cutting average wait times to 30 minutes”.
“Now, we’re reducing that wait even further for frequently ordered items like coffee, burgers, ice cream, and biryani, partnering with trusted restaurants to deliver the best food in just 10 minutes.”
Swiggy ‘XL’ Fleet
The large order fleet, ‘XL’, on a pilot run for the past few weeks, was formally launched on Saturday in Gurugram, on the day of Haryana Assembly elections.
“To commemorate its official launch, the Swiggy XL EV fleet delivered 3,500 meals to electoral officials at more than 580 polling booths in Gurugram and Badshahpur constituencies. This service was provided free of cost to the District Administration,” Swiggy stated.
Sidharth Bhakoo, National Business Head of Swiggy Food Marketplace said, the food delivery services are helping in the overall growth of the F&B sector in India by driving new consumption occasions, promoting supply proliferation and enabling expansion of consumer base.
“Food is also very closely associated with conviviality and mirth, so we are witnessing demand for bulk orders when families and friends get together. The festival season is perhaps the best time to launch this service, when there is gaiety and joy all around, and everyone celebrates with their loved ones. Swiggy XL will ensure that there is no interruption in parties and gatherings and no delay in large orders,” he said.
Bhakoo added that in the coming weeks, the service will be extended to more cities.
A fleet of 20 Swiggy XL EVs delivered three meals- dinner on October 4, Friday, and breakfast and lunch, on October 5, Saturday.
Last week, Swiggy filed its updated draft papers with markets regulator Sebi to raise funds through its much-anticipated Rs 10,000-crore IPO. The updated draft filing comes after Swiggy’s confidential offer document was approved by Sebi earlier this week.
