Jun 9, 2015

SWIGGY FOOD DELIVERY STARTUP RAISES$16.5 Mn in Series B

SWIGGY FOOD DELIVERY STARTUP RAISES$16.5 Mn in Series B


Bangalore based online food delivery startup SWIGGY.com had raised Series B funding of $16.5 mn from Norwest  ventures, SAIF and Accel partners. Food technology start-ups have attracted ample investor interest of late but this space is crowded right now, but we will see consolidation over the next couple of years.

How is Swiggy going to use the fresh funds?
Swiggy.com will use it to expand into several additional Indian cities this year.

How many Food Startups in India raised funds?
In the past one year 14 India-based food or grocery delivery startups that have raised venture funding.

What is the market size of Food delivery in India?
$6 billion

When was Swiggy Startup Founded?
2014

Swiggy USP
  • Swiggy has hired its own delivery fleet, powered by a routing algorithm, to maximize speed and efficiency.
  • Multiple online payment options
  • Use own vehicles to ensure delivery on time.
Funds raised by Swiggy
Series A - $2.5 mn
Series B - $16.5 mn

Swiggy Business Stats:
Partnered with 700 restaurants
2,000 orders a day
Average order value close to Rs.300
50% of orders come through APP

Swiggy Revenue Model
Charges restaurants 20% of the order value

Founders of Swiggy
Sriharsha Majety
Rahul Jaimini
Nandan Reddy

Online Food Ordering Apps
Tinyowl
Peppertap
Zomato
FoodPanda
Delyver


#fooddelivery #startup #onlinefoodordering #foodapps #swiggy #zomato #peepertap

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