Friday, June 21

Tag: Swiggy

Coatue Management to Invest $50-100 Mn in Swiggy
FUNDING

Coatue Management to Invest $50-100 Mn in Swiggy

Coatue Management one of the world’s best performing technology hedge funds, is in discussion to invest $50-100 million in Swiggy, the online food-delivery in partnership with a few additional investors. This will be the second investment in two months for the food delivery app after South African Naspers and Meityan-Dianping, the Chinese e-commerce. This states how rapid the current Indian digital market is evolving, especially in terms of investment. Swiggy possessed a valuation of $700 million when they received their last investment and the Chinese online-to-offline service platform Meituan-Dianping is set to invest in the company again along with Coatue and two unknown investors. Meituan-Dianping is set to invest an additional $40 Mn in Swiggy. Reports cannot confirm whether ...
Swiggy and PhonePe Tie-up for the Business Expansion
BUSINESS

Swiggy and PhonePe Tie-up for the Business Expansion

Swiggy, a food delivery app, and Flipkart's payment arm Phonepe have collaborated to provide more payment option to users during the food ordering payment. So apart from other online payment option, now you can pay via Phonepe wallet in the Swiggy app. PhonePe is currently being accepted by more than 60,000 online and offline merchants. "An increasing number of consumers are relying on online food ordering platforms like Swiggy for their food and beverage (F&B) needs," PhonePe Head of Business Development Pradeep Dodle said. Also, there is an introductory offer where people will get 25% cashback on PhonePe on their first order up to 100 Rs & 50 Rs on their subsequent order. This partnership with PhonePe gives our users many simplified payment options like UPI and PhoneP...
Food-tech Startup Holachef Raises Rs 2 Crore Funding
FUNDING

Food-tech Startup Holachef Raises Rs 2 Crore Funding

Mumbai based diamond manufacturer and distributor Laxmi Diamond Pvt Ltd's Ashok Kumar Gajera has invested Rs 2 crore in food technology startup Holachef a financial daily reported. Holachef is a food delivery service from its "innovative food combos". The funding is raised at the same valuation as its $5 million Series B round which was held in April, last year. The food delivery startup had raised around $5 million from its existing investors- Kalaari Capital, and was participated by SIDBI Venture Capital and India Quotient, as per the filings with the Registrar of Companies and documents. The Series-B round was completed in two rounds- valuing the company at Rs 143 crore. The startup has been working to build up its team and scale its logistics infrastructure to streamline the busi...
Leading Food Ordering App Swiggy Launches Operations in Chandigarh
News

Leading Food Ordering App Swiggy Launches Operations in Chandigarh

Food ordering and delivery platform Swiggy today said it has expanded its services to Chandigarh and has tied up with over 250 restaurants in the city. The startup, which has gained a substantial market share and was last valued at USD 400 million when Naspers led a USD 80-million investment in May, said it will soon expand to neighbouring cities Mohali, Panchkula and Zirakpur. The restaurants partnered include legendary eateries, trendy cafes, ice cream parlours and national and international Quick Service Restaurants (QSRs) in the city. "The restaurant scene here is a perfect mix of traditional and fast-food, making it a food lover's paradise... Foodies in the city can enjoy food from the finest neighbourhood restaurants on Swiggy," Swiggy Vice President Marketing Srivats TS sai...
Swiggy Scam: Is India’s Best Startup Award Winner, a Wolf in Sheep’s Clothing?
ANALYSIS, News

Swiggy Scam: Is India’s Best Startup Award Winner, a Wolf in Sheep’s Clothing?

Swiggy, a pan-India food delivery app, whose claim to fame was by creating opportunities for local restaurants and the underprivileged, have recently come under the spotlight for allegations of fraud and trickery. In an anonymous post, on Tumblr, current and former employees exposed the company’s skeletons, leaving people feeling furious and cheated. The criticism itself was contemptuous and clearly displayed the abhorrence of the writers. The post contained proof in the form of photographs that revealed the contrast between company-held figures and the presentations sent to investors. Such corruption could be expected from a big multinational company but not from an innocent, idealistic startup. Here are the crimes, Swiggy was accused for committing in the Tumblr post, "Swiggy, a House of...
6 Differentiators to Help Your Startup Win the Race
ANALYSIS

6 Differentiators to Help Your Startup Win the Race

Thousands of startups open and shut every year, forced by a fiercely competitive environment. Below are 6 differentiators that will help you stay above the crowd and prove yourself a winner:-   Tell a Captivating Story People love stories and to draw them to yours, you must ensure that they understand where you are coming from. You have to illustrate your pitch in such a manner that people can instantly relate and put themselves in your shoes.  It needs to have logic, emotion and recall value. Using the power of storytelling through various channels like emails and social media, you can enhance a brand’s image, significantly.   Acknowledge What Makes You Different You are probably not the first one to create your product or service and even if you ar...
Swiggy Raises $80 Million From Naspers, Existing Investors
FUNDING

Swiggy Raises $80 Million From Naspers, Existing Investors

Online food delivery platform Swiggy today said it has raised USD 80 million (over Rs 517 crore) in series E funding led by global internet group and technology investor Naspers. The funding saw participation from other existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. The funds will help Swiggy introduce new products and service offerings to enhance its customer experience, Swiggy said in a statement. Naspers has also invested into the parent company of Swiggy's rival foodpanada, Delivery Hero. The food ordering platform also said it plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation. Besides, th...
Swiggy Raises Rs 100 Crore from Bessemer Venture Partners
FUNDING

Swiggy Raises Rs 100 Crore from Bessemer Venture Partners

Food ordering and delivery platform Swiggy said it has raised $15 million in a fourth strategic round of funding (Series D) from Bessemer Venture Partners, with existing investors also participating. The freshly raised funds are expected to fuel company's next growth phase, with an improved customer experience. This will include technology upgrades, a wider spread of restaurants to choose from and better delivery efficiency, Swiggy said in a statement here. This comes close on the heels of the $35 million (nearly Rs 232.85 crore) it raised in January 2016 from existing and new investors, including New York-based Harmony Partners and Singapore-based RB. With this latest round of funding, the company has now raised $75.5 million (nearly Rs 502.28 crore) in all, it said. "Our strong...
Decoding: Why Food Tech Startups Are Not Successful in India?
Story

Decoding: Why Food Tech Startups Are Not Successful in India?

Last year before Diwali we covered an interview of  a 25-year-old Bikaneri sweet shop owner from Noida "What kind of Startup Services a “Bikaneri Sweet Shop” Owner Needs?". Here we mentioned each and every point of a sweet shop owner needs from food tech startups. Though after a gap of one year we still feel that none of the food tech startups taking a lesson from it. Due to lack of perfect business model and strategy, most of the shop owners stop using online food services.   Reasons Why Businesses Had to Scale Down Indian market is not mature enough to order food online. They only order food when there is a discount. Sad but true. We saw 100–150 orders from the single restaurant just for dinner on weekends when foodpanda was running a discount. Immediate next week when foodpand...
Bangalore Based Food Startup Swiggy Raised Rs 47 crore
FUNDING

Bangalore Based Food Startup Swiggy Raised Rs 47 crore

Online food ordering startup Swiggy has raised Rs 47 crore from existing investors Norwest Venture Partners, DST Global and Accel Partners. The value of Swiggy is now over Rs 865 crore or $130 million. Over the past few months, the company has also seen its order value basket size increased to Rs 375 per order. Close to 30% of these orders are cashless. Swiggy is also fulfilling close to 40,000 orders from the eight cities that it operates in including Bengaluru, Hyderabad and Delhi-NCR. The new round of funding gives the startup additional horsepower to go deeper into its core eight cities and maintain its market leadership position as it competes with other startups including Zomato and Runnr, to be formed after the merger of Roadrunnr and TinyOwl. Reddy explained that the compa...
Top 5 Portals To Help You Settle in a New City
News

Top 5 Portals To Help You Settle in a New City

If you're new to the city and still trying to settle down, check out these 5 portals that can help you feel at home in a jiffy! From finding a home to making friends, these portals are all you need.   1. Search, compare, book! -  Wego.com offers you the best platform to find cheap travel tickets Its sometimes exasperating to sift through multiple websites searching for the best deal to buy your tickets to the city. Wego provides you the perfect platform to compare the prices of all flights and travel portals! Simply type in your destination and watch as Wego lists the best deals for you.   2. Find, book, shift! - Zenify.in helps you find your perfect home! If you're moving to Bangalore, Zenify is the broker you need. With many localities for you to choose in Bangalore, ...