The companies have had agreements in individual markets, but the new global agreement will reduce complexity and improve operational efficiency, Takeaway said.
The company will introduce this new feature in the Philippines in the second half of 2022, with plans to expand to additional Southeast Asia markets by 2024.
The proposed investment is subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the investment agreement executed between the parties.
Operating in a cloud kitchen format, Shoyu offers pan-Asian cuisine, including a wide range of delectable Japanese dishes made available to customers in Hyderabad through Swiggy.
In partnership with Collins Food Limited, KFC Australia’s largest corporate franchise partner, a ‘cloud’ kitchen has been developed to cater to the drone delivery.
Curefoods, which now operates more than 15 food brands, will also assimilate Maverix’s marquee brands that include; Great Indian Khichdi, Canteen Central, Home Plate.
While the food delivery business has nearly doubled in gross order value (GOV) in the last year, this fund raise will enable Swiggy to further accelerate growth on the core platform and make meaningful investments to grow Instamart.