Swiggy may need to raise $500 million to keep Instamart running

Business Sep 22, 2025

Swiggy may need to raise over $500 million (about ₹4,400 crore) to fuel the growth of Instamart, its quick commerce arm, according to analysts at JM Financial.
The company faces big losses—₹2,278 crore in just the last two quarters—and tough rivals like Blinkit and Zepto.

Blinkit is growing faster than Instamart

Even with financial setbacks, Instamart's order value has more than doubled year-on-year. But Blinkit is growing even faster and plans to double its store count over the medium term.
To keep pace, Swiggy may also sell its stake in Rapido for extra funds. While Swiggy had ₹5,354 crore in cash reserves as of June 2024, analysts say raising more money is key if it wants to stay relevant in the quick delivery race.