Swiggy, the leading foodtech major, has unveiled a new service yesterday, aimed at transforming the food delivery landscape with its latest offering, Swiggy Bolt, which promises to deliver quick-to-prepare meals in just 10 minutes.
Currently operational in six major cities, including Bengaluru, Hyderabad, Mumbai, Chennai, Delhi, and Pune, Swiggy Bolt seeks to redefine convenience in food delivery.
In an official statement, Swiggy announced that Bolt will feature popular dishes from well-known national brands such as KFC, McDonald’s, Burger King, Baskin Robbins, Starbucks, Chaayos, and EatFit, along with local favorites.
The menu will include burgers, a variety of hot and cold beverages, breakfast items, and biryani, all designed for minimal preparation time. Additionally, ready-to-pack options like ice creams, sweets, and snacks will also be available.
CEO of Swiggy’s food marketplace division, Rohit Kapoor, emphasized the company’s commitment to convenience. “Bolt is the next evolution in our mission to provide unmatched convenience. Ten years ago, Swiggy revolutionized food delivery by cutting average wait times to 30 minutes. Now, we’re reducing that wait even further for frequently ordered items,” he stated. Rohit Kapoor also hinted at a pan-India rollout for the service in the near future.
Notably, the delivery partners will not be informed of any distinctions between Bolt and regular orders, ensuring a seamless experience without penalizing or incentivizing them based on delivery times.
Swiggy Bolt follows the recent launch of Swiggy Cafe, which was introduced in select Bengaluru localities to deliver snacks and beverages in 15 minutes.
This initiative included curated beverage options from brands like Blue Tokai and The Whole Truth.
Swiggy has previously explored the 10-minute delivery concept with Swiggy Instacafe, piloting the service under its quick commerce arm, Swiggy Instamart, in 2022.
In contrast, competitor Zomato had a similar service, Zomato Instant, but rebranded it after struggling to meet fixed costs due to low daily volumes.
The competitive landscape is further heating up, with new entrants like Swish, a startup launched in August, entering the 10-minute delivery space in Bengaluru.
As Swiggy prepares for its much-anticipated IPO, the company recently filed its updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI).
Following approval from shareholders, Swiggy has increased the size of its fresh issue of shares in the IPO to INR 5,000 Crores, alongside an offer for sale of 18.53 Crore equity shares.
