The journey of Swiggy started late but it has become the fastest Indian company to reach Unicorn Status by some distance. 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 utilizes an innovative technology platform that allows customers to order food from nearby restaurants and get it delivered at their doorstep. But the Swiggy company launches 5 years because customers attractive to offer an extra discount. Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin in 2014 and is headquartered in Bangalore, Karnataka, India. Read to find out which chinese investors are backing which startups…. < /decoding hyperlocal> | Founded in 2014, Swiggy is India’s leading, tech-driven, an on-demand delivery platform with a vision to elevate the quality of life for the urban consumer by offering unparalleled convenience. "The market will … Led by the global investment and media conglomerate, Naspers, with participation from the … [6][7][3], In September 2019, Swiggy launched instant pickup and drop service Swiggy Go. The Swiggy Story: Find out how Swiggy became the fastest company to reach Unicorn Status in India. The deal is the largest investment in a food delivery company outside of China, and it means Swiggy is one of the few in the billion-dollar-round club. From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups, "From Paytm To Swiggy: Chinese Money Is Powering These Indian Startups", 50 Lakh Govt Employees Will Get Salary Hike; Rs 21,000 Hike…, Indigo Will Pay 100% Salary To All Employees As Leave…, Limit For Contactless Payment, Without PIN Raised To Rs 5000…, Google Pixel XE To Challenge iPhone SE? [25] 'Swiggy Money' is a digital wallet launched by Swiggy in partnership with ICICI Bank. The Gururgam-based company had raised INR 1142 Cr ($150 Mn) in January. Comments are closed, but trackbacks and pingbacks are open. Popularly known as the secondary specialists, TR Capital is an active secondary investor in India and even set up an office in Mumbai in 2018. The first was launched in June 2018, Swiggy said. The company was founded in 2014, has main office in Bengaluru, Karnataka, India. ... the company has partnered with close to a 100 luxury properties from hotel chains such as ITC Hotels, ... swiggy have to keep away from Chinese investors and try to keep their companies totally Indian. July 3, 2020 By Hitesh Bhasin Tagged With: SWOT articles Swiggy is a popular online food ordering and delivery platform. An architect discovering her passion for writing. It has close to $2 billion of exposure to India across around 15 startups. Total Revenue for the last few years: Total Revenue of Zomato Revenue: 446 Crore Loss: 106 Crore Zomato is a day-wise day cover the business loss. With Indo-China border tensions surging and an anti-China sentiment brewing amongst Indians, a boycott of Chinese products will grow in the coming days. He added, “The risk is for early and growth-stage companies where these cheques are still an option-value,” he said. Swiggy doesn't care for their customers. Customers Upset, Angry…, Redmi 9 Power Price In India, Availability: Full Specs,…. I am still in love with what i do everyday. Experience Swiggy's superfast delivery for food delivered fresh & on time Restaurants in your pocket Order from your favorite restaurants & track on the go, with the all-new Swiggy app. Affiliate Income June 20, 2019 July 7, 2019 Sameer Vanja 0 Comments. [Update] Succefully completed 16 months at Swiggy. The customers who do not have an account in the ICICI bank can also avail the services. The first was a $2 million investment from Accel and SAIF Partners, along with an additional investment from Norwest Venture Partners. It has led rounds in Sharechat, lending startup Krazybee and few others. Started in 2005, Hillhouse has been active in the mobility segment. In 2014, they jointly created Swiggy, as well as the parent holding company Bundl Technologies. Hillhouse Capital, an investor in Baidu, Tencent, Grab Airbnb and others, has put in more than $165 million in India already. A week after Zomato had raised Rs. 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. 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. The first India casualties in a border conflict with China since 1975 have tensed the already tense ties between the two countries. [20] Swiggy planned to transition Scootsy's partners, fleet and nudge consumers to its app and shut Scootsy by June-end 2020. 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. It has stakes in 7 companies including Swiggy, Udaan and Cred. An avid reader keen on traveling the world with the desire of penning down stories. Swiggy works by acting as a bridge between customers and restaurants. There is still motivation everyday coming in the form expansion, new processes and crazy growth. The company started operations in 2014 and is headquartered in Bengaluru. Metro Station, Indiranagar, Stage 1, Indiranagar, Bengaluru, Karnataka 560038 Swiggy was hopeful of moving towards pre-COVID levels as more restaurants resume operations and order volumes grow, a company spokesperson told Moneycontrol. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. A founder of a unicorn pointed out that while his company’s exposure to China may be large, that bet is now too big to fail. Its India investments are to the tune of $111 million. Swiggy is India's largest[2] and highest-valued[3][4] online food ordering and delivery platform founded in 2014. 6. Trakin Tech Network In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. 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