Swiggy Karo, phir jo chahe karo! 

This may now be the motto of the 2 co-founders of swiggy, but it was not always like this. Nandan Reddy and Sriharsha Majety went to the same college- Birla Institute of Technology and Science. They lucked out in their second try on entrepreneurship! 

First came Bundl, a logistics aggregator which connected small and medium companies to courier service providers. The business started off fine. However, after almost a year into it, they realised their focus needed to change from the courier service field to the food industry. 

Nandan and Sriharsha soon realised there was a strong need for an online hyperlocal logistics company in the restaurant industry. By 14 August, the duo made their dream into a reality by rolling out Swiggy, the country’s first online food ordering platform. Rahul Janimini, an IIT Kharagpur alumni, supported the coding needs of the platform. 

One office, one neighbourhood, six delivery executives and 25 partner restaurants- this is what Swiggy started off with within the beginning. Almost four years into the field, Swiggy now has a major presence in Delhi, Mumbai, Pune, Bangalore, Hyderabad, Chennai and Kolkata. Not just that, they are partnered with 12,000 restaurants and over 13,000 delivery executives!

This is what people say about the co-founders- These individuals are exceptional! Entrepreneurship runs in their veins and they have embraced it! 

Sriharsha has embraced stubbornness and taken inspiration from Redbus to start this empire.

Everyone fails, and everyone learns. This is what the duo believes in. Harsha wanted to turn their learning into something more fruitful. Contemplating on filling a gap they found in the market, they observed that the rationale behind founding Swiggy was, “There was no large company with ideas similar to ours and hence we saw a competitive advantage of building a hyperlocal delivery platform that moved things fast in the city.”

So what made swiggy special?

In reality, they were the first food delivery platform and better than the ones tha were already in the market. They had roped in the major and minor eateries, provided fast deliveries, live order and no restriction on the order amount! They also had an impressive delivery range which did them favours! 

Swiggy is a Food teach unicorn of Inida which gives a tough competition to Zomato! Let’s have a look at their books-

In July 2021, Swiggy raised 1.25 billion USD, valuing the company at 5.5 billion USD, which is around 40000 Cr in INR.  At assumed 5% holding in the company, Swiggy CEO net worth could be estimated at INR 2000 crores. In September 2021, there were reports that Swiggy was in talks to raise $500 million USD valuing the company at 10 billion USD.  

Swiggy’s investors include Naspers, DST Global, Meituan Dianping, Coatue Management, Bessemer Venture Partners, Norwest Venture Partners, Accel, and SAIF Partners. Series J list of investors may include Falcon Edge Capital, Think Investments, Amansa Capital, Goldman Sachs, and Carmignac.  

Apart from this, Swiggy became a ray of hope in the pandemic with Swiggie genie, instamart rolling out and delivering food to our loved ones! 

The only downfall we see of Swiggy and zomato is their inability to connect home chefs to their customers, but that is what Foodism is here for!