Swiggy, an online meal ordering and delivering platform, was founded by three young entrepreneurs, Rahul Jaimini, Shriharsha Mazetti, and Nandan Reddy, to tackle the difficulties of many people who are unable to cook for themselves or go out to eat. People can get food of their choosing at any time from the comfort of their own home or business.
Sriharsha Majetti, Swiggy’s creator, claims that he co-founded the company with two other pals, Nandan Reddy and Rahul Jaimini. IIT Kharagpur and Birla Institute of Technology and Science (BITS), Pilani, respectively, graduated Rahul and Sriharsha, while Nandan Reddy and Sriharsha graduated from BITS, Pilani.
Sriharsha was inspired to start Bundl Logistics after working for a year in a bank after finishing his engineering. He had a strong urge to start his own firm, therefore he resigned. He co-launched a firm with his friend Nandan Reddy, after which they both founded their own logistics company, “Bundl,” but the company did not last long, and they closed it down in 2014.
Majetti decided to start an online food delivery business after seeing the failure of his logistics company, Bundl. Having transformed his plan into reality, he launched the company with five delivery boys in August 2014, laying the foundations for Swiggy.
Hard work is the key to success
Swiggy’s first big finance came in the form of a $2 million investment from Accel and SAIF Partners. Swiggy was backed by Norwest and two venture capital firms in 2015. Swiggy consistently delivered over 70,000 orders by 2015, when more than 100 outlets were ready.
Swiggy raised $80 million in a Series E round led by Naspers, with participation from other existing investors, making it Swiggy’s largest investment to date.
To be successful, Sriharsha Majety, Nandan Reddy, and Rahul Jamini had to put in a lot of patience and hard effort. Swiggy became the country’s top food aggregator as a result of their hard work and patience.
Swiggy debuts with 5 delivery boys
Majetti decided to start an online food delivery business after seeing the failure of his logistics company, Bundl. Having transformed his plan into reality, he launched the company with five delivery boys in August 2014, laying the foundations for Swiggy.
Success comes from hard work
First major funding for Swiggy came from Accel and SAIF Partners in the amount of 2 million dollars. Swiggy received funding in 2015 from Norwest and two Venture Capital firms. More than 70,000 orders were consistently delivered by Swiggy, by 2015, after more than 100 restaurants were ready.
Swiggy raised $80 million in a Series E round of funding led by Naspers, other existing investors also taking an interest, making it Swiggy’s largest investment to date.
Sriharsha Majety, Nandan Reddy, and Rahul Jamini’s trio put in a great deal of patience and hard work to become successful. It was because of their hard work and patience that Swiggy became the country’s largest food aggregator.
About the Founders
Swiggy’s founder Sriharsha Majetti says he founded the company with two other friends, Nandan Reddy and Rahul Jaimini. Rahul and Sriharsha graduated from IIT Kharagpur and Birla Institute of Technology and Science (BITS), Pilani, respectively, while Nandan Reddy and Sriharsha graduated from BITS, Pilani.
They invested in a larger sales team to bring famous restaurants on board. Swiggy also made investments in bringing up the technology to make its logistics network more efficient. The result – they become an instant success with orders increasing exponentially every month.
Swiggy earns revenue by partnering with various financial institutions like Citibank, HSBC, and ICICI Bank. This affiliate income is a new yet successful revenue stream where both parties benefit. It also allows customers to receive several credit card offers from those financial companies.
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