Post Date : December 1, 2021
After Bangalore, IPO-bound Ola takes another plunge into online grocery delivery and launches its services across Mumbai with almost 15 dark stores, informs sources privy to the development.
The company has been delivering around 1,000 orders on a daily basis.
The company plans to set up 300 dark stores for grocery and convenience delivery by January and expand its existing 55 cloud kitchens to 150-160 by January, said people with knowledge of the development.
With its entry into quick-commerce, OLA is likely to compete with newcomer Zepto which has been doing 10,000 orders on a daily basis besides Swiggy’s Instamart and Grofers.
While Instamart delivers 150,000-1,60,000 orders on a daily basis, Grofers’ delivering 125,000 orders per day.
The quick commerce segment (delivery under 45 minutes) is slated to grow 10-15-fold in the next five years to become a $5 billion opportunity by 2025, said RedSeer,
It’s imperative for Ola to have a diverse portfolio of businesses ahead of its public listing. This is touted to be one of the key reasons that the company is making its strategic entry into the online food and grocery delivery businesses.