Swiggy is an Indian restaurant search and food ordering and delivery company.
In August 2013, a few years after graduating from BITS Pilani Sriharsha Majety and Nandan Reddy founded an e-commerce website called “Bundl” (Bundl Technologies), a logistics and shipping startup for small sellers retailing on e-commerce platforms such as Flipkart and Amazon India. The venture failed to take off and within a year, the two shelved their original business model and they moved into the food delivery market. At the time, the food delivery sector was in turmoil as several notable startups, such as Foodpanda (later acquired by Ola Cabs), TinyOwl (later acquired by Zomato) and Ola Cafe (later closed) were struggling. Majety and Reddy approached IIT-Kharagpur graduate Rahul Jaimani, formerly with Myntra, and founded Swiggy and parent holding company Bundl Technologies in 2014. It begins operations in Bengaluru’s upscale neighbourhood of Koramangala with six delivery executives and 25 restaurants on its platform.
In particular, cloud kitchens— a programme that allows its restaurant partners to set up kitchen spaces in areas where they don’t operate, introduced back in 2015. Within a year of the launch, Swiggy had managed to create a buzz, with order volumes increasing exponentially on its platform with each passing month. Larger rivals, such as Zomato, also sat up and took notice, deciding to venture into food delivery in 2015. In June that year, Swiggy got its second major cheque from Accel, Norwest and SAIF.
