Swiggy just hit a home run with a $15 Million funding from Norwest Venture Partners
These days, it seems like everyone is scrambling over each other to get us our food. Hot piping food delivered to our doorstep and in some cases, our dining table. We aren’t complaining, are you?
The latest food-delivery start-up to receive an endorsement in big bucks is Swiggy. Yes, $15 million is a big score. This news comes just a month after raising $2 million from Accel and SAIF Partners. Yes, Swiggy is on a roll. Swiggy has expanded from two neighbourhoods in Bengaluru in February to 12 at present, with plans to cover the entire city in the next two months. It has also started operations in Gurgaon, with plans to expand to Hyderabad, Mumbai, Pune and NCR region.
“We are doing more than 1,500 orders a day but are still able to meet only 70% of the demand,” co-founder Majety told ET last week. The startup is now targeting over 10,000 orders a day by August this year, when it completes one year of operation.
Swiggy has been founded by Birla Institute of Technology & Science Pilani alumni Majety and Nandan Reddy with Indian Institute of Technology, Kharagpur, graduate Rahul Jaimini.