Swiggy To Sponsor Shark Tank India Season 4, Blocks Zomato's Deepinder Goyal

Marking a significant move in its ongoing rivalry with Zomato, Swiggy is set to sponsor the fourth season of Shark Tank India for Rs 25 crores, as per media reports. As part of the sponsorship agreement, Swiggy has stipulated that Zomato's founder, Deepinder Goyal, will not return as an investor on the show. This decision highlights the intensifying competition between the two food and grocery delivery giants, especially as Swiggy gears up for its initial public offering (IPO).

While both companies were once evenly matched, Zomato has recently taken a clear lead in market share. To bolster its brand presence ahead of its public listing, Swiggy plans to allocate Rs 950 crore of the RS 3,750 crore it aims to raise towards marketing and awareness efforts.

Shark Tank India, which airs on Sony Television, has begun shooting its fourth season, featuring returning investors such as Anupam Mittal, Aman Gupta, Namita Thapar, Peyush Bansal, and Ritesh Agarwal. Goyal, who joined as a Shark in Season 3, received acclaim for his incisive questioning and engaging commentary, boosting his popularity.

Swiggy recently updated its draft red herring prospectus (DRHP), filing with the Securities and Exchange Board of India (SEBI). The primary issue size was increased from Rs 3,750 crore to Rs 5,000 crore, reflecting the company’s strategy to secure additional funding as it prepares for a competitive market landscape.