Food delivery major Swiggy is reportedly trying to sell its kitchen infrastructure business Swiggy Access as it prepares for an IPO.
The kitchen infrastructure company, which was founded more than five years ago, provides a kitchen-as-a-service product to restaurants in order to help them set up their cloud kitchens. According to ET, Swiggy is in the process of selling its kitchen infrastructure business to cloud kitchen company Kitchens@. The transaction is supposed to be a share swap, with Kitchens@ valued at $40 million and Swiggy Access valued at $10 million. Swiggy’s private labels may also become clients of Kitchens@ in some locations as part of the agreement.
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