Swiggy Acquires Chennai-based Logistics Startup LYNK

Food delivery giant Swiggy has entered into a definitive agreement to acquire LYNK, a Chennai-based logistics platform for brand owners.

With a network of over 100,000 stores, LYNK is backed by Ramco Cements and its promoters – P.R. Venketrama Raja (Chairman of Ramco Systems) and his son Abinav Raja, also the Co-founder of LYNK.

Founded by Abinav Raja and Shekhar Bhende in 2016, LYNK had raised about $23 million altogether and nearly all from Ramco. Ramco Cements currently holds more than 49% stake in LYNK while the remaining is held by the startup's promoters.

LYNK counts Hindustan Unilever, ITC, Tata, Lakme, Pepsico, Britannia, RedBull, Mars and Dabur among its customers.

Food delivery unicorn Swiggy, last year, acquired restaurant tech platform Dineout from Times Internet and made a notable investment in bike taxi startup Rapido. While it's competitor Zomato had acquired groceries delivery firm Grofers (now Blinkit).