Ola plans to open 500 dark stores across 20 cities as part of an aggressive push for its quick commerce service, Ola Dash.
The move comes at a time when several platforms, including Swiggy and Zomato, are looking to expand their presence in this fast-growing market. Others, such as Zomato-backed BlinkIt (formerly Grofers), Dunzo, and Mumbai-based Zepto, are beefing up their instant delivery offerings as well. Swiggy raised $700 million in a funding round led by US asset manager Invesco earlier this week, valued at $10.7 billion. Last week, Zepto raised $100 million at a $570 million valuation. Dunzo recently received a $240 million funding round led by Reliance Industries in exchange for a significant minority stake.
Ola Dash currently operates 200 dark stores in nine cities, with over 2,500 stock-keeping units. By the end of the year, it hopes to have processed more than 500,000 orders per day. Dark stores are neighbourhood distribution centres that allow for quick product delivery.
Ola Dash has 200 dark stores in nine cities, with over 2,500 stock-keeping units. By the end of the year, it hopes to have exceeded 500,000 daily orders. Dark stores are local distribution hubs that make it easier to get products to customers quickly.
“Ola has been a leader in the on-demand mobility business for more than a decade,” said Anshul Khandelwal, chief marketing officer of Ola. “Our advanced geolocation tech, coupled with very low cost of customer acquisition gives us a unique advantage to bring the benefits of mobility to all.”
“Our quick commerce service is an essential part of our connect with customers as they rely on technology and online services to fulfil their daily needs. Over the next few months, we will be expanding our reach and presence to more cities and customers,” he added.
Ola’s quick-commerce focus is part of its endeavour to position itself as a super app ahead of a planned initial public offering (IPO). The company recently raised $500 million in debt to strengthen its newer businesses like quick commerce and used car sales platform. It is trying to increase spending by customers who have the Ola app installed on their devices.
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