Swiggy’s losses indicates the heavy cash burn and poor unit economics in food delivery and technology start-ups.

  • Food delivery start-up Swiggy (Bundl Technologies Pvt. Ltd) posted a near 65-fold increase in losses for the fiscal year ended March 2016.
  • It indicates heavy cash burn and poor unit economics in food start-ups.
  • Swiggy’s revenue rose to Rs23.59 crore for the year ended 31 March from Rs11.59 lakh a year earlier. Of this, Rs20.14 crore was revenue from operations and the rest from other income.
  • Losses bulged to Rs137.18 crore from Rs2.12 crore in fiscal 2015.
  • Total expenses stood at Rs160.77 crore, implying that Swiggy burnt about Rs13 crore per month in FY16.
  • Swiggy and Zomato Media Pvt. Ltd are two of the largest companies in the food delivery space.
  • Some food start-ups such as Dazo and Eatlo shut shop, while others were acquired.

Click here to read the complete story on Livemint.

#Swiggy #FoodDelivery #Financials #Startup #Start-up #Loss