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Swiggy – Company Profile

Swiggy is a leading food ordering and delivery startup in India. The company started operations in 2014 and is headquartered in Bengaluru. Swiggy works by acting as a bridge between customers and restaurants. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. With Swiggy, customers do not have to keep the contact numbers of various restaurants and eateries in their locality. Swiggy works as a single point of contact for ordering food from all restaurants that may be there at a particular location. Swiggy has its own team of delivery professionals who pickup orders from restaurants and deliver it at the customer’s doorstep. This has made the task of ordering food a lot easier for customers. Restaurants also gain by getting more orders and avoiding costs and efforts associated with maintaining their own delivery personnel.

History:

The idea for Swiggy came in 2014, when the founders realized that there was a huge gap in the food ordering and delivery space. Restaurants often faced manpower problems and their delivery personnel were also not trained to deliver food in time. Swiggy started as a small setup in August 2014, with a team of six delivery personnel and covering 25 restaurants. However, the idea soon became a huge hit among customers and restaurants alike. Swiggy now has operations in 8 cities and more than 10,000 restaurants on its platform.

Funding:

Swiggy has received investments worth USD 155.5 million via six rounds of funding. Investors include SAIF Partners, Harmony Partners, Naspers, Norwest Venture Partners, Bessemer Venture Partners, and Accel Partners.

Acquisitions:

Swiggy had acquired gourmet food startup ’48East’ in December 2017. The acquisition of 48East has helped Swiggy to strengthen its service offerings and add additional capabilities as well. The deal was done for an undisclosed amount.

Competition:

Swiggy competes with other players in the food ordering and delivery space such as Zomato, Box8, Holachef, Dineout, etc.

About the Founders:

Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini. Sriharsha Majety is an alumnus of Indian Institute of Management, Calcutta and he currently serves as the Chief Executive Officer (CEO) at Swiggy. Co-founder Nandan Reddy is an alumnus of Birla Institute of Technology and Science and he heads operations at Swiggy. He had earlier worked at Galla, Zurna, IDinsight, and Intellecap. Co-founder Rahul Jaimini is an alumnus of Indian Institute of Technology, Kharagpur and he is the Chief Technical Officer at Swiggy.  Prior to Swiggy, he had worked at Myntra and NetApp.

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