It has invested around $85 million in 12 Indian startups, with some late stage investments like in Ixigo and Delhivery and some early-stage ones like LetsTransport, Mylo and others. [14], In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. It has stakes in 7 companies including Swiggy, Udaan and Cred. It does not solve your problems. An architect discovering her passion for writing. Its India investments are to the tune of $111 million. [11] 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. [11], In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. Started in 2005, Hillhouse has been active in the mobility segment. Flipkart, Lenskart, Urban Ladder and BigBasket are among the nine companies it has invested in. The only fintech investment Fosun has done in India is in digital lending startup Kissht. [6][7][3], In September 2019, Swiggy launched instant pickup and drop service Swiggy Go. The company started operations in 2014 and is headquartered in Bengaluru. Another revenue stream for Swiggy is a concierge service Swiggy Go that was launched in 2019 to offer instant pick & drop service. A week after Zomato had raised Rs. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. [15], Swiggy acquired Bangalore-based Asian food start-up 48East in 2017. In the process, they have emerged as the biggest backers of the country’s fast-growing digital economy, superseding the US investors. Nandan and Sriharsha realised there was a strong need for an online hyperlocal logistics company in the restaurant industry. Chinese companies are big investors in the Indian startup space, which has not only created a new class of entrepreneurs but also given India the much-needed technological push, generating employment on the side. The initial setup of food delivery was targeted at a single neighbourhood with 25 partner restaurants and six delivery executive personnel. 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. [10][11] Majety and Reddy approached Rahul Jaimini, formerly with Myntra, and founded Swiggy and parent holding company Bundl Technologies in 2014. Founders are equally wary of raising beyond, say, 15-20% capital pool from Chinese investors and their affiliates.”, A second investor who counts at least 2 unicorns in his portfolio said, “Chinese capital is expected to stay away, at least in the medium term, and we will step up and pump in more money if the situation requires us to do so. Read to find out which chinese investors are backing which startups…. 1,300 crore from Alibaba, rival Swiggy has raised Rs. The customers who do not have an account in the ICICI bank can also avail the services. Although, as per last month’s reports, Chinese venture capital investors have turned increasingly wary about India’s new foreign direct investment policy, after the government mandated that all investments from countries sharing a land border with India will require its prior approval. Swiggy is a leading food ordering and delivery startup in India. Swiggy | 613,919 followers on LinkedIn. 6. All this is made possible by sophisticated logistics and focus on key resources. The smartphone maker Xiaomi has been an active investor in the Indian startup ecosystem. Total Revenue for the last few years: Total Revenue of Zomato Revenue: 446 Crore Loss: 106 Crore Zomato is a day-wise day cover the business loss. All Rights Reserved. The company has grown massively after the initial 25% month-on-month growth. The company is based out in Bangalore and is currently … Swiggy specialises in online food, restaurant. [25] 'Swiggy Money' is a digital wallet launched by Swiggy in partnership with ICICI Bank. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. [5] In early 2019, Swiggy expanded into general product deliveries under the name Swiggy Stores. The Chinese Food Company, 538, CMH Road, Opp. Swiggy works by acting as a bridge between customers and restaurants. Below, you can check all types of contact details of Swiggy India Company. [24] Swiggy has partnered with Indifi Technologies to facilitate a financing program for partner restaurants. 650 crore from fellow Chinese e-commerce company Meituan-Dianping and South Africa-based media conglomerate Naspers as a part of its Series F funding. 20 jawans were martyred on June 15 in the Galwan Valley in the bloodiest clash in almost 50 years with Chinese … Founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014, Swiggy started its operations as a hyperlocal food delivery platform by partnering up with a few restaurants in Bengaluru. By 14 August, the duo made their dream into a reality by rolling out Swiggy, the country’s first online food ordering platform. [12], In August 2020, the company launched their groceries delivery platform called InstaMart. The platform is engineered to connect millions of consumers with hundreds of thousands of restaurants and stores across 500+ cities. Subscribe our newsletter to stay updated. Bundl Technologies Private Limited provides consumer services. The journey of Swiggy started late but it has become the fastest Indian company to reach Unicorn Status by some distance. Swiggy Go . In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. 6, Vivek Building, Sadashiv Peth, It is becoming a moral hazard for a company to accept any capital from China in this environment…The current standoff at the border does little to mitigate that,” Pai of 3one4 Capital said. When all entrepreneurs and enterprises refused to comment on the topic when questioned by ET amidst the border tensions some prominent risk capital investors are asking their respective portfolios to diversify cap tables. In 2014, it invested $50 million in online automobile comparison platform CarDekho. An avid reader keen on traveling the world with the desire of penning down stories. © 2020 - Trak.in - Indian Business of Tech, Mobile & Startups. Swiggy doesn't care for their customers. Metro Station, Indiranagar, Stage 1, Indiranagar, Bengaluru, Karnataka 560038 Led by the global investment and media conglomerate, Naspers, with participation from the … They roped in Rahul Janimini, an IIT Kharagpur alumni, to do coding work for the platform. In merely six years, Swiggy now has more than 1,40,000 restaurants on its platform serving 20 million customers in over 500 cities across India. Your Xiaomi Phone Will Not Receive These MIUI 12 Updates (Camera, Wallpaper, Icons And More), Indians Can Ditch Xiaomi & Buy Samsung Smartphones For Their Next Upgrade (Survey), Paytm Will Charge 0% Fee From Sellers For Wallet, UPI, RuPay Payments, Made In India Brand Boat Beats Xiaomi, Apple To Become #1 In Wireless Earbuds Market…, Apple, Xiaomi Shipments From China Getting Delayed; Taking 300% More Time To Get…, After Selling 60 Lakh Units, Poco Detaches Itself From Xiaomi; Becomes Independent…. In 2014, they jointly created Swiggy, as well as the parent holding company Bundl Technologies. It will face significant near-to-medium term cash constraints if investors from the world’s second-largest economy walk away. A founder of a unicorn pointed out that while his company’s exposure to China may be large, that bet is now too big to fail. He added, “The risk is for early and growth-stage companies where these cheques are still an option-value,” he said. “The entire sentiment is leaning anti-China right now. But the Swiggy company launches 5 years because customers attractive to offer an extra discount. Swiggy is a partnership firm. It has led rounds in Sharechat, lending startup Krazybee and few others. 2. It will allow the customers to store money to pay for the orders. Popularly known as the secondary specialists, TR Capital is an active secondary investor in India and even set up an office in Mumbai in 2018. ", "Swiggy gets battle ready; raises $210 mn from Naspers, DST Global", "Online food delivery wars are moving from India to Bharat", "India's Swiggy goes beyond food to offer product delivery from local stores", "How food aggregator apps like Swiggy, Zomato, are trying innovative business methods", "India's Swiggy has a new service that will deliver just about anything", "Swiggy launches instant pick up and drop service 'Swiggy Go, "How Swiggy Became India's Fastest Unicorn", "Swiggy Timeline: From a Bootstrapped Venture to India's Fastest Growing Unicorn (Infographic)", "Swiggy lays off 1,100 employees as Covid-19 derails Cloud kitchens", "Swiggy Launches InstaMart; Promises To Deliver Groceries Within 45 Minutes", "Swiggy acquires Bengaluru-based AI startup Kint.io", "Swiggy gets another $43m from Tencent, Samsung", "Swiggy acquihires 48East team, adds to senior leadership", "Swiggy Acqui-hires Gourmet Asian Food Startup 48East", "Swiggy acquires on-demand delivery firm Scootsy for Rs 50 crore", "With an eye on concierge services, Swiggy acquires SuprDaily", "Swiggy takes a bite of Fingerlix, invests Rs 31 crore in food brand", "Swiggy to shutter its premium food delivery service Scootsy - ETtech", "Online ordering app Swiggy ties up with Burger King", "Swiggy, Google Local Guides Offer Recommendations, Benefits, and More", "Swiggy customers can now pay through Sodexo meal cards", "Swiggy partners with Indifi Tech to launch financing program for restaurant partners", https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/swiggy-launches-digital-wallet-in-tie-up-with-icici-bank/76723697, https://en.wikipedia.org/w/index.php?title=Swiggy&oldid=992434979, Creative Commons Attribution-ShareAlike License, This page was last edited on 5 December 2020, at 07:11. [9], 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. Swiggy is based in Bangalore, India, and as of March 2019, was operating in 100 Indian cities. Shunwei Capital has led multiple rounds in Indian startups like food delivery giant Zomato, social commerce startup Meesho, messaging app Sharechat and lending platforms Krazybee and Loantap. [8] The service is used for a diverse array of items, including laundry and document or parcel deliveries to business clients and retail customers. The Gururgam-based company had raised INR 1142 Cr ($150 Mn) in January. < /decoding hyperlocal> | Founded in 2014, Swiggy is India’s leading, tech-driven, an on-demand delivery platform with a vision to elevate the quality of life for the urban consumer by offering unparalleled convenience. [21], Swiggy has partnered with Burger King to provide delivery services. Swiggy General Information Description. Experience Swiggy's superfast delivery for food delivered fresh & on time Restaurants in your pocket Order from your favorite restaurants & track on the go, with the all-new Swiggy app. The first was launched in June 2018, Swiggy said. The deal is the largest investment in a food delivery company outside of China, and it means Swiggy is one of the few in the billion-dollar-round club. As per reports, Chinese investors have pumped in $3.9 billion in 2019, up from $2 billion in 2018. Paytm Becomes India’s #1 LPG Cylinder Booking Platform! Affiliate Income Customers Upset, Angry…, Redmi 9 Power Price In India, Availability: Full Specs,…. Back in 2018, Manu Kumar Jain, its top India executive, said the company was looking to pump in Rs 6,000 crore across 100 Indian startups. It has invested close to $2.7 billion in India across 7 companies. I am still in love with what i do everyday. There is still motivation everyday coming in the form expansion, new processes and crazy growth. The company's platform lists local restaurants and menu lists on an app for users to order from and track delivery of its delivery executives, enabling users to order food with speed and convenience. It is one of the famous names, providing online food in India. [26], "Swiggy's losses increased six-fold to Rs 2,364 crore in FY19", "Online Food Delivery: Swiggy Vs Zomato: Who Has A Better Chance To Win India's Hunger Games? [13], In 2015, the company began attracting external investments. This is the main reason to lose this company. The company was established during the year 2014 and is headquartered in Bangalore, India. Co-founded by Nandan Reddy, Sriharsha Majesty, and Rahul Jasmine in 2014, Swiggy aims to deliver food from the best restaurants in the city to urban… [22] It has also partnered with Google Local Guide to facilitate customer reviews,[23] and with Sodexo to enable customers for paying through meal cards. The worrisome matter however remains that the country’s startup ecosystem continues to be dependent on large swathes of foreign funding given the ongoing absence of home-grown pools of capital. [11] 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. It has a revenue of $86M. However, another startup founder said even as investments from China began to slow after notification of the government’s Press Note 3 in April, more avenues have opened up — from the US, UK, and Middle East. It was founded in 2014. How Did This Happen? [16][17] Swiggy later acquired Mumbai-based Scootsy Logistics, a struggling food and fashion delivery service. June 20, 2019 July 7, 2019 Sameer Vanja 0 Comments. It has backed growth-stage players like Khatabook, MyGate, Niyo Solutions and other established players like PolicyBazaar, and Udaan. With Indo-China border tensions surging and an anti-China sentiment brewing amongst Indians, a boycott of Chinese products will grow in the coming days. July 3, 2020 By Hitesh Bhasin Tagged With: SWOT articles Swiggy is a popular online food ordering and delivery platform. ... the company has partnered with close to a 100 luxury properties from hotel chains such as ITC Hotels, ... swiggy have to keep away from Chinese investors and try to keep their companies totally Indian. The food-tech space in India is getting spicier and spicier. Two months ago, Foodpanda had been acquired by Ola, who’d committed to investing Rs. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. The company was founded in 2014, has main office in Bengaluru, Karnataka, India. From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups. 20 jawans were martyred on June 15 in the Galwan Valley in the bloodiest clash in almost 50 years with Chinese troops during a disengagement exercise to end a prolonged standoff along the Line of Actual Control. The company started operations in 2014 and is headquartered in Bengaluru. Swiggy is India's largest[2] and highest-valued[3][4] online food ordering and delivery platform founded in 2014. Swiggy has seen a similar uptick from premium restaurants and hotels. Comments are closed, but trackbacks and pingbacks are open. “Businesses that already have investors deeply invested cannot and will not back out at this point.”. Trakin Tech Network The company's platform utilizes a smartphone application that has local restaurants and their online ordering menu listed, from which it provides delivery using a fleet of personnel, enabling people to order food at their convenient places. We have to align to these new geo-political scenarios.”, A founder of a unicorn that has raised money from Chinese investors said, “The sentiment has been impacted.” He added, “It’s becoming clearer that China would now prefer allocating capital to markets outside India, if all other factors remain the same.”. 15 ], in 2015, the company at $ 3.6 billion in love with what i do.... India company IIT Kharagpur alumni, to do coding work for the orders Kissht. Customers and restaurants 2013, Fosun RZ Capital is a company spokesperson told Moneycontrol Reddy, and of! Compared to late-stage bets the restaurant industry a company which offers an on-demand food delivery Swiggy! 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