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. Hillhouse Capital, an investor in Baidu, Tencent, Grab Airbnb and others, has put in more than $165 million in India already. It does not solve your problems. 6, Vivek Building, Sadashiv Peth, In 2014, they jointly created Swiggy, as well as the parent holding company Bundl Technologies. It utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. Swiggy has 8652 employees. This is the second such liquidity programme launched by the company. [8] The service is used for a diverse array of items, including laundry and document or parcel deliveries to business clients and retail customers. Customers Upset, Angry…, Redmi 9 Power Price In India, Availability: Full Specs,…. The Swiggy Story: Find out how Swiggy became the fastest company to reach Unicorn Status in India. Meituan-Dianping, a Chinese food-to-flights startup, is quietly increasing its exposure to India. They roped in Rahul Janimini, an IIT Kharagpur alumni, to do coding work for the platform. 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. Swiggy is a company which offers an on-demand food delivery platform designed to provide food from neighborhood restaurants to the customers. 7. The company has grown massively after the initial 25% month-on-month growth. But the Swiggy company launches 5 years because customers attractive to offer an extra discount. Swiggy is a leading food ordering and delivery startup in India. It is one of the famous names, providing online food in India. Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin in 2014 and is headquartered in Bangalore, Karnataka, India. India’s top startups, including Paytm, Zomato, Swiggy, Udaan, BigBasket, LensKart, CarDekho and many prominent startups that count Chinese investors among their largest backers, are likely to face further hurdles in raising capital, as the anti-China sentiments escalate following the ongoing military standoff between the two countries. An avid reader keen on traveling the world with the desire of penning down stories. In 2014, it invested $50 million in online automobile comparison platform CarDekho. 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. The company started operations in 2014 and is headquartered in Bengaluru. The first was a $2 million investment from Accel and SAIF Partners, along with an additional investment from Norwest Venture Partners. Swiggy was started in a small office space in Koramangala, Bangalore and the company started off with limitations. [15], Swiggy acquired Bangalore-based Asian food start-up 48East in 2017. 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. The company is based out in Bangalore and is currently … [12], In August 2020, the company launched their groceries delivery platform called InstaMart. All this is made possible by sophisticated logistics and focus on key resources. The first India casualties in a border conflict with China since 1975 have tensed the already tense ties between the two countries. 2. [Update] Succefully completed 16 months at Swiggy. [13], In 2015, the company began attracting external investments. Swiggy is a Internet company and has headquarters in Bengaluru, Karnataka, India. He added, “The risk is for early and growth-stage companies where these cheques are still an option-value,” he said. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. In November 2019, Ant Financial said it was trying to raise a billion dollar for fresh investments in startups in India and Southeast Asia. It will face significant near-to-medium term cash constraints if investors from the world’s second-largest economy walk away. [21], Swiggy has partnered with Burger King to provide delivery services. Swiggy was hopeful of moving towards pre-COVID levels as more restaurants resume operations and order volumes grow, a company spokesperson told Moneycontrol. 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. [11] In May 2020, Swiggy laid off 1100 employees during the COVID-19 pandemic. The company was founded in 2014, has main office in Bengaluru, Karnataka, India. Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. 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. Rs 33 Lakh Of Fake Mi Products Found By Police; How To Identify Fake Mi Products? The company started operations in 2014 and is headquartered in Bengaluru. The Tej Kapoor-run firm is known to cut smaller cheques and does not directly compete with the likes of Tencent and Alibaba. A week after Zomato had raised Rs. [25] 'Swiggy Money' is a digital wallet launched by Swiggy in partnership with ICICI Bank. It has close to $2 billion of exposure to India across around 15 startups. [11], In 2017, Naspers led an $80 million funding round into Swiggy. [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. 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. How Swiggy plans to spread its wings. [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. There is still motivation everyday coming in the form expansion, new processes and crazy growth. 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