Bengaluru-based food delivery unicorn Swiggy announced it has appointed three independent directors to its board, according to VCCircle report. The three hires include tractor maker TAFE’s Mallika Srinivasan, logistics firm Delhivery’s Salil Barua and Shailesh Haribhakti of Shailesh Haribhakti & Associates. “They have very rich and diverse experiences in building sustainable businesses at scale.Getting these new…
Rapido, a bike-taxi aggregator, announced it has raised about $180 million in Series D funding round from Swiggy. WestBridge, TVS Motor, Nexus Ventures and Shell Ventures also participated in the funding round. The startup will utilise the funds to bolster its technology and strengthen its teams across diverse sets of capabilities, increase overall supply to…
Food delivery startup Swiggy to invest $700 million in its quick commerce business, Instamart, according to TNN report. “At our current growth trajectory, Instamart is set to reach an annualised GMV run rate of $1 billion in the next three quarters. With our food delivery business trending at a $3 billion annualised GMV run rate,…
Swiggy has elevated Phani Kishan Addepalli, VP – Strategy & Investments, as the new Co-Founder of the company, Sriharsha Majety, CEO, wrote in a blog post. Kishan joined Swiggy in 2015 as General Manager – Strategy, Analytics, CX & New Initiatives. Prior to Swiggy, Kishan had a stint with global companies like The Boston Consulting Group, ITC…
Food delivery platform Swiggy has secured $800 million in funding at $5 billion valuation. The investment was received from Think Investments, Falcon Edge, Carmignac, Amansa Capital, and Goldman Sachs, among others. “The fundraise was oversubscribed due to the strong recovery following pandemic-induced disruption,” said Sriharsha Majety in an email sent to employees. “The fundraise gives…
Digital-lending Fintech firm HAPPY has entered into food-tech sector in partnership with Swiggy, online food delivery platform. Manish Khera, Founder & CEO, HAPPY, says, “Our objective is to enable small-scale restaurants to get quick access to credit to meet their growth and working capital needs. Especially when these businesses have been hit by the pandemic-led slowdown,…
Just months after it laid off 1100 employees across various markets in May, food tech unicorn Swiggy recently announced that it has decided to let go of another 350 employees, in what is being termed as the second wave of layoffs at the company. According to the foodtech giant, the industry has recovered only to…
After food delivery companies Swiggy and Zomato secured state permissions to deliver alcohol at customer doorstep, Online retail giant Amazon is reportedly eyeing to enter the services. According to a Reuters report, Amazon India has secured clearance from the West Bengal government to deliver alcohol in the state. In a notice, West Bengal State Beverages…
Swiggy, an on-demand food delivery platform that brings food from neighborhood restaurants directly to users’ doors, announced that it is offering affordable lending products, training tools, discounted ad spots, and economical food packaging material to help its restaurant partners to resume operations. Swiggy has also activated bi-weekly payment options to enable smooth cash flows for…
Foodtech unicorn Swiggy recently announced that it is planning to shut down its Mumbai-based on-demand premium food delivery service Scootsy. The Bengaluru-based company had acquired Scootsy in 2018 but let it operate as an individual entity. The company now plans to merge the brand under the bigger umbrella of its main brand to establish its…
The Indian food delivery market has been in a soup due to the government imposed lockdowns in an attempt to contain the spreading of coronavirus. Online delivery companies like Zomato and Swiggy forayed into grocery and essential items delivery to keep business running amid losses due to the lockdowns. The central government allowed the sale…
Online food delivery companies like Zomato and Swiggy have started home delivering alcohol in Jharkhand’s capital city, Ranchi. As of now, the service is only limited to one city, however, both the companies have said that the service will soon be available in other cities of the state. The companies are also in talks with…
Just days after Zomato announced its decision to lay off employees, food delivery unicorn Swiggy also said that it is laying off 1,100 employees across functions over the next few days. In a blog written by Sriharsha Majety, Co-Founder and Chief Executive Officer, the company said, it will be laying off 1,100 employees across grades…
India’s largest food delivery company, Swiggy recently announced that the company Co-founder and Chief Technology Officer Rahul Jaimini, has resigned from his position to pursue another entrepreneurial venture. His resignation was announced by company CEO and Co-founder Sriharsha Majety in a blogpost, where he bid goodbye to his “magician” friend and business partner. Jaimini will…
KRBL Limited, India’s largest branded rice company, announced that it has associated with Zomato and Swiggy to introduce INDIA GATE BASMATI RICE on the country’s leading food delivery platforms. “Through this collaboration, India Gate Basmati Rice aims to provide all top selling packs to consumers without having them to step out of their safe heavens.…