The Tej Kapoor-run firm is known to cut smaller cheques and does not directly compete with the likes of Tencent and Alibaba. In November 2019, Ant Financial said it was trying to raise a billion dollar for fresh investments in startups in India and Southeast Asia. Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin in 2014 and is headquartered in Bangalore, Karnataka, India. [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. Started in 2005, Hillhouse has been active in the mobility segment. 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. 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. Two months ago, Foodpanda had been acquired by Ola, who’d committed to investing Rs. They roped in Rahul Janimini, an IIT Kharagpur alumni, to do coding work for the platform. 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. From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups. It will face significant near-to-medium term cash constraints if investors from the world’s second-largest economy walk away. Siddarth Pai, founding partner of 3one4 Capital, told ET said, “The conversation that is going to take place among startups is going to be about the quality of the capital that is going to come aboard, and not just the adequacy of it…The conversation of quality over quantity has reached a chorus amongst investors across all and we see this becoming a mainstay of investing.” The Bengaluru-headquartered VC firm, which manages assets of about Rs 800 crore across 4 funds, does not count Chinese or Chinese-origin investors in its list of Limited Partners. The smartphone maker Xiaomi has been an active investor in the Indian startup ecosystem. Nandan and Sriharsha realised there was a strong need for an online hyperlocal logistics company in the restaurant industry. Swiggy | 613,919 followers on LinkedIn. “The entire sentiment is leaning anti-China right now. 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. Founded in 2014, 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. 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. By 14 August, the duo made their dream into a reality by rolling out Swiggy, the country’s first online food ordering platform. 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. As per reports, Chinese investors have pumped in $3.9 billion in 2019, up from $2 billion in 2018. As of now, it has around $61 million invested in 8 companies. Below, you can check all types of contact details of Swiggy India Company. Trak.in - Trak.in is a popular Indian Business, Technology, Mobile & Startup blog featuring trending News, views and analytical take on Technology, Business, Finance, Telecom, Mobile, startups & Social Media Space. It has a revenue of $86M. Swiggy is a partnership firm. The Chinese Food Company, 538, CMH Road, Opp. [11], In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. It was founded in 2014. Swiggy has seen a similar uptick from premium restaurants and hotels. ", "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. Live Photos Out, Key…, HDFC Bank’s UPI Is Not Working? The Swiggy Story: Find out how Swiggy became the fastest company to reach Unicorn Status in India. Hillhouse Capital, an investor in Baidu, Tencent, Grab Airbnb and others, has put in more than $165 million in India already. Their firm began to grow steadily, quickly reaching large-scale population coverage. Its India investments are to the tune of $111 million. Swiggy was hopeful of moving towards pre-COVID levels as more restaurants resume operations and order volumes grow, a company spokesperson told Moneycontrol. [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? 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. The Gururgam-based company had raised INR 1142 Cr ($150 Mn) in January. 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. It has invested $129 million across 17 companies. It is one of the famous names, providing online food in India. A week after Zomato had raised Rs. [19] In 2019, the company invested Rs 31 crore in Mumbai-based ready-to-eat food brand Fingerlix. Swiggy’s rival Zomato is also on a funding ride in 2020. 7. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. [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. The food-tech space in India is getting spicier and spicier. Swiggy. It has close to $2 billion of exposure to India across around 15 startups. But the Swiggy company launches 5 years because customers attractive to offer an extra discount. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. The first was launched in June 2018, Swiggy said. [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. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. [12], In August 2020, the company launched their groceries delivery platform called InstaMart. "The market will … The company is based out in Bangalore and is currently … The company was established during the year 2014 and is headquartered in Bangalore, India. Swiggy has 8652 employees. July 3, 2020 By Hitesh Bhasin Tagged With: SWOT articles Swiggy is a popular online food ordering and delivery platform. This is the main reason to lose this company. [25] 'Swiggy Money' is a digital wallet launched by Swiggy in partnership with ICICI Bank. 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. From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups, "From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups", 50 Lakh Govt Employees Will Get Salary Hike; Rs 21,000 Hike…, Indigo Will Pay 100% Salary To All Employees As Leave…, Limit For Contactless Payment, Without PIN Raised To Rs 5000…, Google Pixel XE To Challenge iPhone SE? [24] Swiggy has partnered with Indifi Technologies to facilitate a financing program for partner restaurants. Swiggy works by acting as a bridge between customers and restaurants. 2. There is still motivation everyday coming in the form expansion, new processes and crazy growth. < /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. Bundl Technologies Private Limited provides consumer services. The company started operations in 2014 and is headquartered in Bengaluru. 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. 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. Swiggy doesn't care for their customers. One of the most prolific Chinese investors in India, Ant Financial, the fintech arm of the Jack Ma-owned tech conglomerate Alibaba Group, has pumped millions of dollars in Paytm and Snapdeal. 6, Vivek Building, Sadashiv Peth, An avid reader keen on traveling the world with the desire of penning down stories. The first India casualties in a border conflict with China since 1975 have tensed the already tense ties between the two countries. 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… The customers who do not have an account in the ICICI bank can also avail the services. [14], In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. [11] The next year, Swiggy raised $15 million from new and existing investors, including Bessemer Venture Partners and Harmony Partners. [15], Swiggy acquired Bangalore-based Asian food start-up 48East in 2017. “Businesses that already have investors deeply invested cannot and will not back out at this point.”. [10] Bundl was halted, and was rebranded to enter the food delivery market. In 2014, it invested $50 million in online automobile comparison platform CarDekho. Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. [11] The company built a dedicated delivery network and grew rapidly, primarily driven by the focus on logistics and locking in key resources. Within Paytm, it has separately funded its ecommerce arm, Paytm Mall. It does not solve your problems. Zomato is better than swiggy, because- 1.) Customers Upset, Angry…, Redmi 9 Power Price In India, Availability: Full Specs,…. How Swiggy plans to spread its wings. Through Swiggy Go, the company earns by helping customers to send, pick, and drop anything to and from different locations anywhere across the city. Led by the global investment and media conglomerate, Naspers, with participation from the … [10][11] Majety and Reddy approached Rahul Jaimini, formerly with Myntra, and founded Swiggy and parent holding company Bundl Technologies in 2014. © 2020 - Trak.in - Indian Business of Tech, Mobile & Startups. I am still in love with what i do everyday. Rs 33 Lakh Of Fake Mi Products Found By Police; How To Identify Fake Mi Products? 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…. 6. 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. How Did This Happen? Some industry insiders also feel that the impact on early and growth-stage companies will be more prominent compared to late-stage bets. It has led rounds in Sharechat, lending startup Krazybee and few others. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. 20 jawans were martyred on June 15 in the Galwan Valley in the bloodiest clash in almost 50 years with Chinese … 1,300 crore from Alibaba, rival Swiggy has raised Rs. The journey of Swiggy started late but it has become the fastest Indian company to reach Unicorn Status by some distance. [11], In 2017, Naspers led an $80 million funding round into Swiggy. Founded in 2013, Fosun RZ Capital is a quick-paced emerging Chinese investor in India. 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. Although, China’s roots have a firm grip over the Indian startup ecosystem. Tencent is another aggressive investor that has backed unicorns like Flipkart, Swiggy and Ola. All this is made possible by sophisticated logistics and focus on key resources. 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 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. Trakin Tech Network Swiggy is India's largest[2] and highest-valued[3][4] 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. [11] In May 2020, Swiggy laid off 1100 employees during the COVID-19 pandemic. He added, “The risk is for early and growth-stage companies where these cheques are still an option-value,” he said. This is the second such liquidity programme launched by the company. Swiggy General Information Description. ... 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. Metro Station, Indiranagar, Stage 1, Indiranagar, Bengaluru, Karnataka 560038 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. The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. [20] Swiggy planned to transition Scootsy's partners, fleet and nudge consumers to its app and shut Scootsy by June-end 2020. 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