The newest acquisition by the Indian food delivery behemoth Swiggy in the past two years is LYNK, a retail logistics startup with a network of over 100,000 stores, for which a binding deal has been reached.
The Bengaluru-based business, which counts Prosus, Accel, and Invesco among its investors, claimed that buying LYNK will enable it to better serve store operators by entering the retail distribution industry.
LYNK supports fast-moving consumer products companies in expanding their retail footprint and is backed by cement juggernaut Ramco. LYNK delivers merchandise from brands to retailers, expediting the process of retail distribution, which also involves logistics, inventory control, and warehousing. According to the company, this leads to improved store stock availability, faster order fulfillment, and ultimately better customer service and higher revenues for retailers.
“LYNK is uniquely positioned in the retail distribution space with their brand-first, tech-led operating model and has demonstrated success with multiple FMCG brands. Our experience in supply chain and logistics gives Swiggy the unique opportunity to help LYNK scale up their offerings and empower retailers to serve their customers better, ” said Sriharsha Majety, CEO of Swiggy, in a statement.
