Instamart tests Swiggy's appetite for biz growth amid rising losses

With its rapid cash burn rate, early investors are questioning the food delivery platform's venture into quick commerce

With losses mounting, early investors at food aggregator platform Swiggy, the eight-year-old food ordering and delivery platform, have started to question if the founders’ focus on its quick commerce play Instamart, which it started in 2020, needs to be revisited.

Sources in the know said that Sriharsha Majety, co-founder and CEO, will have to take a call within one-two months on whether he wants to continue to focus on burning cash behind Instamart.

In the first week of January, Swiggy, which is unlisted, announced that its losses for FY22 widened 2.24 times to Rs 3,628.9 crore in FY22 from Rs