However, the new e-commerce platform has a long way to go before it can match the technological and service capabilities of companies like Amazon, Flipkart, Swiggy, Zomato, and others
In January last year, Swiggy raised $700 million in a funding round that was led by Invesco and saw participation from a host of investors including Baron Capital Group
The report citing sources added that e-commerce platform Flipkart is also hopping on the bandwagon and has started its work for UPI offerings
Recently, ONDC has gained a lot of traction because of the stiff competition it is posing to major food aggregators like Swiggy and Zomato
Waayu's launch comes at an interesting time when the government-backed Open Network for Digital Commerce platform is gaining more traction, following Swiggy's decision to charge Rs 2 platform fee
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The revised valuation represents a massive 49% decrease from the $10.7 billion valuation
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E-food delivery majors may instead partner the govt network
This is the second time Invesco has trimmed the valuation of Swiggy, which is backed by SoftBank and Prosus
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ONDC intends to bring the benefits of digitisation to millions of sellers and resellers in the country
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ONDC is not an app but a facilitative platform designed to "revolutionise" digital commerce
Downloads of food delivery apps like Zomato, Swiggy, Domino's, etc. have gone up in April over February
This comes days after Swiggy closed down its premium grocery delivery offering, Handpicked, just six month after it was introduced as a pilot in Bengaluru
This is an increase of around 10% when compared to the FY 2021-2022
Online food delivery platform Swiggy on Wednesday said it disbursed more than Rs 31 crore in claim amounts to its delivery partners in the fiscal year 2022-2023
Through Handpicked, Swiggy used to sell a selection of premium, gourmet, imported and hard-to-get grocery items
The move has drawn the ire of many Swiggy users, who took to Twitter to voice their complaints