Swiggy re-evaluating investment in Rapido on potential conflict of interest

New Delhi: Food delivery major Swiggy, which owns Instamart, on Thursday said it is “actively re-evaluating” its investment in Rapido, as a potential conflict of interest may arise due to the latter’s intention of entering the food delivery space.

“Rapido, one of our investee companies, has announced its intention to enter the Food delivery space. Having scaled up from a bike-taxi player to a full-fledged mobility platform, Rapido is now the largest mobility player in India by rides and has been a disruptor in its space.”