The Startup India Insight

Swiggy

Swiggy is an Indian food delivery platform that connects users with local restaurants, offering quick and convenient meal delivery to their doorsteps.

Swiggy Journey

Swiggy's Founder and History

Swiggy is an Foodtech Unicorn of India, founded in the month of August, 2014 by a group of three co-founders.

Its co-founders includes Nandan Reddy, Sriharsha Majety, Rahul Jaimini.

This has its headquarter located at Bangalore, Karnataka, India.

It also a result of the three peoples minds who become motivated from Zomato.

Their was some loop hole in the services of Zomato which is that it was only available in few cities in that time and also the delivery of Zomato was not that much good in that time.

So the team or founders Swiggy see it as a problem and started their own platforms as a food delivery network and become successful in very sort time of period.

According to Wikipedia it currently operating its services around 500+ cities all over the India.

It's a platform where a hotel or restaurant can do partnership and can offer food delivery online.

The working procedure of Swiggy and Zomato is approximately same. It also known as a one of largest competitor of Zomato.

Swiggy Unicorn Status

If we discuss here that when Swiggy become a Unicorn?, Then the answer of this question is after 4 years of its foundation in the month of June, 2018.

At the time when it become a part of Indian unicorns list its entry valuation recorded approx. 1.4 billion dollars.

Swiggy's Investors

 Accel, Elevation Capital, Norwest, Naspers, Tencent, Invesco are known as key investors of Swiggy.

No doubt that their are multiple other investors invested in Swiggy's, but the peoples or companies or ventures who highly invested on Swiggy are the names listed above.

It also achieve a valuation of 10.7 billions dollars after the last round of funding by investors.

Multiple factors are their which become key reasons to make Swiggy a Unicorn or India.

Some of them are like masterminds behind foundation, proper applicability of information technology in the platform.

Other factors includes proper funding, choose those cities for offering services which actually required such kinds of services and so on.

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Swiggy, founded on August 1, 2014, has emerged as India’s leading food delivery company. Over the years, Swiggy has transformed the food delivery landscape by offering convenience, reliability, and speed to its customers. Today, it stands at the forefront of the industry, setting benchmarks for innovation and customer satisfaction. Swiggy Bombay Stock Exchange  Recently, Swiggy […]

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Recently launches of Swiggy fifth ESOP liquidity programme worth $65M mark a significant impact in its jornery. This initiative, worth $65 million, aims to provide significant financial benefits to its employees. Empowering Employees with ESOP Liquidity Swiggy’s latest ESOP (Employee Stock Ownership Plan) liquidity programme is designed to allow employees across all levels and functions […]

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Recently Swiggy comes in highlights due to its significant move of tests UPI plug-in with Yes Bank and Juspay. With this initiative Swiggy aims to enhance and improve consumer experience by easy payment process. The company is partnering with Yes Bank and Juspay to beta test this new feature. Beta Testing the UPI Plug-In Swiggy […]

Flipkart Stake Purchase Talks With Swiggy Denied by Startup

Recently in the tech industry, a report surfaced stating that Flipkart held discussions with Swiggy regarding a potential stake purchase. However, Swiggy has denied these claims. This article delves into the details of this report, the involved parties, and the current state of these discussions. Report on Flipkart and Swiggy Talks According to a report […]

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