What is Swiggy? Swiggy Review

Swiggy is an Indian food delivery platform. After users place an order, the couriers will go to various restaurants, pack the food and deliver it to the users quickly.

About Swiggy

Swiggy is a food delivery platform based in Bangalore, India’s high-tech hub. Founded in 2014, it has launched food delivery services in more than 50 cities in India. Swiggy currently has more than 40,000 catering partners.

Delivery

Swiggy has its own delivery team. Based on data algorithms and path tracking and other technical means, it optimizes the delivery routes of delivery personnel, thereby shortening the delivery time. The average delivery time for each order on the platform is only 37 minutes, making it the food delivery platform with the shortest delivery time in India. The delivery team mainly uses motorcycles, and some use bicycles.

Business Model

In terms of business model, customers pay Swiggy a delivery fee of Rs 20 to Rs 24 per order, depending on the city, and Swiggy also charges restaurants a commission of 15-25%.

How it works and how to pay

1. Swiggy operates through its website and mobile applications. Users can read the menu and place orders on its website or Android or iOS applications. After placing the order, Swiggy assigns a delivery person to collect the food from the restaurant and deliver it to the location determined by the customer.

2. Payment can be made through cash on delivery, online banking, credit and debit cards, and digital wallets.

honor

In 2016, Outlook Magazine named Swiggy the Startup of the Year.

In 2017, Swiggy was named Startup of the Year at the Economic Times Startup Awards.

In 2018, Swiggy won the Startup of the Year award at the Startup awards and Star Re.imagine awards.

Development History

-Swiggy was co-founded by Nandan Reddy, Rahul Jaimini and Sriharsha Majety in August 2014.

-In April 2015, Swiggy announced the completion of its Series A financing of US$2 million from investors including Accel Partners and SAIF.

-In June 2015, Swiggy completed a US$16.5 million Series B financing round from investors including Accel Partners, Norwest Venture Partners (NVP), and SAIF.

-In January 2016, Swiggy completed a US$35 million Series C financing round with investors including SAIF/SAIF Asia Fund and Accel Partners.

-In early 2016, Swiggy launched a project called “Swiggy Express”.

-In September 2016, Swiggy completed its Series D financing of US$15 million from investors including SAIF, Norwest Venture Partners and Accel Partners.

-In May 2017, Swiggy announced the completion of a US$80 million Series E financing round, with investors including Naspers,

Norwest Venture Partners - NVP, Harmony Partners.

-In November 2017, Swiggy launched the Swiggy Access service, which provides surrounding neighborhoods and community kitchen venues to its partner restaurants.

- At the end of 2017, Swiggy launched its supply chain business New Supply. New Supply is a new business launched at the end of last year. Its first product is Swiggy Access, which mainly provides kitchen space as a service for restaurants to choose so that they can expand their regional coverage in various cities in India.

-In January 2018, South African internet giant Naspers and Tencent jointly invested US$200 million in food delivery startup Swiggy.

-In February 2018, Swiggy completed a new round of financing with a financing amount of US$100 million. The financing was led by South African media giant Naspers and participated by Meituan Dianping.

-In June 2018, Swiggy completed Pre-IPO financing of US$210 million, with investors including Naspers and DST Global.

-In October 2018, Swiggy completed a new round of financing of US$900 million from investors including Naspers and Tencent.

-In December 2018, Swiggy completed a new round of financing of US$1 billion, led by South African investment giant Naspers. In addition to Naspers, Tencent also joined Swiggy's round of financing. New investors also include Hillhouse CAPItal and Wellington Management Company.