What is Swiggy? Swiggy Review

Basic Introduction

Swiggy has over 35,000 restaurant partners and over 55,000 delivery drivers across 15 cities in India including Delhi, Mumbai, Pune, Bengaluru, Hyderabad, Chennai and Kolkata.

business

Swiggy has its own delivery team. Based on data algorithms and technical means such as route tracking, 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.

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%.

Development History

Swiggy was founded in 2014 in a small office in Koramangala, Bengaluru.

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

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

At the end of 2017, it launched the 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 May 2020, Indian food delivery giant Swiggy laid off 1,100 employees and some adjacent businesses to reduce costs.

Co-founder and CTO Rahul Jaimini has resigned from Swiggy and joined Indian talent accelerator Pesto Tech as its co-founder.

Financing

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

In June 2015, Swiggy completed its Series B financing of US$16.5 million. Investors included Norwest Venture Partners (NVP), Accel Partners, and SAIF.

In January 2016, Swiggy completed its Series C financing of US$35 million from SAIF and Accel Partners.

In September 2016, Swiggy completed its Series D financing of US$15 million. Investors included SAIF, Norwest Venture Partners, Accel Partners, and Bessemer Venture Partners.

In May 2017, Swiggy completed its Series E financing of US$80 million. Investors included Naspers, Norwest Venture Partners-NVP, Harmony Partners, Bessemer Venture Partners, SAIF, and Accel Partners.

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

In February 2018, Indian O2O food delivery platform Swiggy just 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 66.25 billion rupees, led by giant Naspers. In addition to Naspers, Tencent also joined Swiggy's round of financing. New investors also include Hillhouse Capital and Wellington Management Company.

In December 2018, Indian food delivery startup Swiggy just completed a new round of financing of US$1 billion, led by Tencent's major shareholder and South African investment giant Naspers.

At the end of February 2020, Swiggy also received a US$113 million Series I financing led by Prosus and participated by Meituan Dianping with a valuation of US$3.6 billion.

In April 2020, Swiggy just received US$43 million in Series I financing from investors such as Tencent and Samsung Ventures.

References

• 1. Indian food delivery giant Swiggy laid off 1,100 employees and received tens of millions of dollars in financing from Tencent and Samsung Ventures last month: Baijiahao [cited on 2020-05-17T16:00:00.000Z]
• 2. Indian food delivery company Swiggy raises $1 billion, led by Naspers: Tencent Technology [cited on 2018-12-19T16:00:00.000Z]