Food ordering and delivery app Swiggy funded their seed capital from Accel Partners and SAIF Partners. Bengaluru based company was founded in August 2014 focuses on food delivery from users favourite restaurants very fast. The VC funded startup growing at very speed pace. The company has developed Swiggy app accepts orders from users and has 150 delivery personnel who pick up the food from restaurants and deliver them to customers who has ordered.
Swiggy app is powered by routing algorithms to create an efficient delivery system. The company is betting on their system of timely deliveries and service levels to capture the online food delivery market in India. Swiggy promises to delivery in 35 mins in a city like Bengaluru where infrastructure and logistically is challenging.
The company is concentrating in the areas of Indiranagar, Koramangala, BTM, HSR, Whitefield, Marathalli and Frazer Town. They are planning to expand their services to other areas in Bengaluru.
“We do not have a minimum order policy on any restaurant. The ownership over the delivery fleet ensures reliable and fast deliveries as our delivery boy only carries one order at a time,” says Sriharsha Majety co founder of Swiggy.
The company was founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014. Nandan Reddy has graduated in Master of Science in Physics from Birla Institute of Technology and Science (BITS),Pilani in 2010. He has vast and diverse entrepreneurial experience. In 2009 he became head of operations of SourcePilani – India’s first rural BPO to provide services for national and international clients in the social media sector. He worked in the company for 1.8 years and then moved as Associate of Business Consulting for Intellecap in Hyderabad.
In 2012 he moved out and worked as external consultant in IDinsight and founded Zuma Restaurant in Hyderabad. Zuma is voted as one of the top 10 restaurants for biriyani and haleem in Hyderabad by Times of India in 2012. He managed the business for 2.2 years.
Nandan Reddy founded Galla; he conceived and helped build a cloud based tablet point of sale system for restaurants that consists of billing, inventories for restaurants. The software is cost effect plug and play POS targeted towards small and medium restaurants.
Sriharsha Majety is co founder of Swiggy is highly qualified in academics. He has dual degree from Birla Institute of Technology and Science (BITS), Pilani. He has done his Bachelor of Engineering in Electrical and Electronics. Master of Science in Physics from BITS (Pilani). Sriharsha has completed 2 levels of Chartered Financial Analyst Program and has post graduation in Finance from Indian Institute of Management, Calcutta.
Sriharsha started his career as Summer Analyst in Nomura International in 2010 and became Recruitment Coordinator for Indian Institute of Management, Calcutta. He joined Nomura International in 2011 as an Associate. In 2012 he travelled from Europe to Asia. In 2013 he co founded Bundl – Shipping solution for e-commerce merchants by aggregating multiple courier partners across India.
Rahul Jaimini is another co founder of Swiggy. He has dual degree in Computer Science and Engineering from Indian Institute of Technology, Kharagpur. He started his career as summer intern in Virginia Tech in 2008 and joined Philips Research as Research Lab intern in 2009. In 2011 he joined NetApp as Member Technical Staff worked there for 1.9 years. He joined Myntra.com in 2012 as software engineer where we worked on writing and enhancing REST API’s. He was promoted as Senior Software Engineer in Myntra.com and he worked in the company for 2.3 years.
The company received their seed capital for $2 million from Accel Partners and SAIF Partners. Anand Daniel of Accel Partners said after funding. “Getting food delivered expeditiously is a huge problem in India. The Swiggy team fills this need.”
Recent time food startups are making news in terms acquisition and funding. Zomato is on global expansion spree and diversified into food delivery too, TinyOwl has raised funding and Foodpanda acquired TastyKhana and Just eat to expand. Nice food startups like iTiffin, Yumist and TapCibo have received seed funding. Olacabs has also started food delivery in major cities likes Bengaluru, Hyderabad and other cities too.