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Why it matters: In an internal company memo seen by the Times , Swiggy CEO and co-founder Sriharsha Majety told staff that the fundraise gives us a lot more firepower [] we will continue to seed [and] experiment new offerings for the future. He added that over the past year, the startup has managed to drive a strong recovery in the food delivery business with a very clear path to profitability [and the] food delivery business is the strongest it has ever been. Swiggy and Alibaba-backed archrival Zomato which is rumored to be planning an IPO were initially hit hard by the Covid-19 pandemic when it arrived in India in early 2020
Another concern is the high prevalence of hookah (water pipe) for smoking flavored tobacco among young people
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