Food delivery startup Swiggy is shutting down its cloud kitchen brand The Bowl Company in Delhi-NCR. The Bowl Company will keep operating in outer cities including Bengaluru, Chennai, and Hyderabad. This cloud kitchen brand began its operation in 2019.
The Brand Company was not working as per expectations and the company was facing big losses. Now when the company is trying to reduce lows, it is cutting some of its experimental activities.
“This experiment has led to its due learnings, even as we focus on operational excellence for the brand. We will continue to invest and grow The Bowl Company in cities like Bengaluru, Chennai, and Hyderabad where the brand is well-loved and growing,” the company spokesperson said in a statement.
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Prosus, which owns a 33% stake in Swiggy, recently confirmed that Swiggy contributed $212 million of its almost $3 billion food-tech revenue for FY22. The company also said that Swiggy’s losses increased to $100 million during FY22
Apart from The Bowl Company, Swiggy also operates Breakfast Express and Homely brands. The company also operates quick-commerce Instamart and intra-city delivery service Genie.
