|Type of business||Private|
|Area served||300+ cities across India|
|Key people||Sriharsha Majety (CEO)|
Vivek Sunder (COO)
Rahul Bothra (CFO)
Dale Vaz (CTO)
|Industry||Online food ordering|
|Revenue||₹2,776 crore (US$390 million) (2020)|
|Profit||₹−3,768 crore (US$−530 million) (2020)|
|Parent||Bundl Technologies Private Limited|
|Native client(s) on||Android, iOS, website|
Swiggy is India's largest online food ordering and delivery platform, founded in 2014. Swiggy is based in Bangalore, India, and as of March 2019, was operating in 100 Indian cities. In early 2019, Swiggy expanded into general product deliveries under the name Swiggy Stores.
In September 2019, Swiggy launched instant pickup and drop service Swiggy Go. The service is used for a diverse array of items, including laundry and document or parcel deliveries to business clients and retail customers.
Swiggy is operated by Bundl Technologies Private Limited.
In 2013, the two founders, Nandan Reddy and Sriharsha Majety, designed an e-commerce website called Bundl to facilitate courier service and shipping within India. Bundl was halted, and was rebranded to enter the food delivery market. At the time, the food delivery sector was in turmoil as several notable startups, such as Foodpanda (later acquired by Ola Cabs), TinyOwl (later acquired by Zomato) and Ola Cafe (later closed) were struggling. Majety and Reddy approached Rahul Jaimini, formerly with Myntra, and founded Swiggy and parent holding company Bundl Technologies in 2014. The company built a dedicated delivery network and grew rapidly, primarily driven by the focus on logistics and locking in key resources.
In May 2020, Swiggy laid off 1100 employees during the COVID-19 pandemic.
In August 2020, the company launched their groceries delivery platform called InstaMart.
In 2021 the company announced that it would cover the vaccination cost for its delivery partners.
Investments and acquisitions
In 2015, the company began attracting external investments. The first was a $2 million investment from Accel and SAIF Partners, along with an additional investment from Norwest Venture Partners. The next year, Swiggy raised $15 million from new and existing investors, including Bessemer Venture Partners and Harmony Partners.
In 2017, Naspers led an $80 million funding round into Swiggy. Swiggy received $100 million from China-based Meituan-Dianping and Naspers in 2018 and a string of investments boosted the company's valuation to over a $1 billion.
In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io.
In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion.
Swiggy acquired Bangalore-based Asian food start-up 48East in 2017. Swiggy later acquired Mumbai-based Scootsy Logistics, a struggling food and fashion delivery service, and later shut it down. It acquired a Mumbai-based milk delivery startup SuprDaily in an all cash deal. In 2019, the company invested Rs 31 crore in Mumbai-based ready-to-eat food brand Fingerlix.
The company raised $800 million in Series J round funding from Falcon Edge Capital, Goldman Sachs, Think Capital, Amansa Capital and Carmignac, as well as existing investors Prosus Ventures and Accel valuing Swiggy at around $4.9 billion.
Swiggy has partnered with Burger King to provide delivery services. It has also partnered with Google Local Guide to facilitate customer reviews, and with Sodexo to enable customers for paying through meal cards. Swiggy has partnered with Indifi Technologies to facilitate a financing program for partner restaurants. Swiggy launched a digital wallet, Swiggy Money, in partnership with ICICI Bank.
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- "Swiggy, Google Local Guides Offer Recommendations, Benefits, and More". NDTV Gadgets 360. Retrieved 31 August 2019.
- "Swiggy customers can now pay through Sodexo meal cards". 18 December 2017. Retrieved 31 August 2019 – via The Economic Times.
- "Swiggy partners with Indifi Tech to launch financing program for restaurant partners". 12 October 2017. Retrieved 31 August 2019 – via The Economic Times.