Food-tech major Swiggy clearly wants to run a tight ship as it prepares for an initial public offering (IPO). Among the first in-house businesses it is jettisoning is its kitchen infrastructure vertical — Swiggy Access. Swiggy Access was launched more than half a decade ago to offer a plug-and-play kitchen-as-a-service offering for restaurants to set up their cloud kitchens. The Bengaluru-based company is now in the process of divesting Access
Food-tech
Swiggy to slice off kitchen infrastructure business as it gears up for IPO
A chef cooks at the DR Chef Fusion cloud kitchen facility in Mumbai.
Synopsis
Industry insiders believe that deleveraging the kitchen infrastructure business will help Swiggy reduce burn as it prepares for a public float. Zomato, too, had gone on a clean-up drive of its cloud-kitchen business during the run-up to its IPO.
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