swiggy

In 2011, Sriharsha Majety and Nandan Reddy designed an e-commerce website called Bundl to facilitate courier service and shipping within India.{{cite web|url=https://www.livemint.com/Companies/NsVFwJMvONZm8qEDJuGoOM/How-Swiggy-became-Indias-fastest-unicorn.html|title=How Swiggy Became India's Fastest Unicorn|date=27 June 2018|work=Livemint|access-date=31 August 2019}} Bundl was halted in 2014 and rebranded to enter the food delivery market.{{cite web|url=https://www.entrepreneur.com/article/325292|title=Swiggy Timeline: From a Bootstrapped Venture to India's Fastest Growing Unicorn (Infographic)|date=23 December 2018|work=Entrepreneur|access-date=31 August 2019}} Majety and Reddy approached Rahul Jaimini, formerly with Myntra, and founded Swiggy in August 2014.{{cite news |last1=Kanth |first1=K. Rajani |title=A start-up by IIM, IIT grads to quickly deliver food from restaurants! |url=https://www.rediff.com/business/report/pix-special-start-up-by-iim-iit-grads-to-quickly-deliver-food-from-restaurants/20150707.htm |access-date=27 February 2023 |work=Rediff |language=en}}

By 2015, Swiggy expanded its food delivery operations from just Bengaluru to eight Tier 1 cities across India.{{cite news |title=Bengaluru's food delivery start-up Swiggy expands operations to Pune |url=https://economictimes.indiatimes.com/small-biz/startups/bengalurus-food-delivery-start-up-swiggy-expands-operations-to-pune/articleshow/48158976.cms |access-date=2 April 2024 |work=The Economic Times |date=21 July 2015}}{{cite news |title=Online food ordering platform Swiggy raises $7 mn |url=https://www.techcircle.in/2016/05/10/online-food-ordering-platform-swiggy-raises-7-mn |access-date=2 April 2024 |work=Techcircle |date=10 May 2016 |language=en}} 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.

In January 2017, Swiggy started its cloud kitchen chain called "The Bowl Company".{{cite news |title=Swiggy sets up cloud kitchen 'The Bowl Company' in Bengaluru |url=https://timesofindia.indiatimes.com/business/startups/companies/swiggy-sets-up-cloud-kitchen-the-bowl-company-in-bengaluru/articleshow/56659238.cms |access-date=27 February 2023 |work=The Times of India |date=19 January 2017}} In November 2017, Swiggy started a kitchen incubator business called Swiggy Access, opening a network of ready-to-occupy kitchens for its restaurant partners.{{cite news |title=Swiggy launches ready-to-occupy kitchens 'Swiggy Access' |url=https://timesofindia.indiatimes.com/business/india-business/swiggy-launches-ready-to-occupy-kitchens-swiggy-access/articleshow/61642315.cms |access-date=27 February 2023 |work=The Times of India |date=14 November 2017}} By 2019, over 1,000 Swiggy Access kitchens were operational, according to a TechCrunch report.{{cite news |last1=Singh |first1=Manish |title=India's Swiggy bets big on cloud kitchens |url=https://techcrunch.com/2019/11/19/swiggy-cloud-kitchen-india/ |access-date=27 February 2023 |work=TechCrunch |date=20 November 2019}}

In mid-2018, Swiggy was operational in 16 Indian cities,{{cite news |last1=Bansal |first1=Varsha |title=Food delivery fight grips small-town India |url=https://www.livemint.com/companies/start-ups/food-delivery-fight-grips-small-town-india-1562002126818.html |access-date=2 April 2024 |work=mint |date=1 July 2019 |language=en}} which increased to 500 cities in 2019, matching the scale of rival Zomato.{{cite news |title=Swiggy now in 500 Indian cities, targets 100 more this year |url=https://www.livemint.com/companies/news/swiggy-now-in-500-indian-cities-targets-100-more-this-year-11570435306526.html |access-date=2 April 2024 |work=mint |date=7 October 2019 |language=en}}

In early 2019, Swiggy expanded into general product deliveries under the name Swiggy Stores, sourcing items from local stores.{{cite web |url=https://techcrunch.com/2019/02/11/swiggy-store/|title=India's Swiggy goes beyond food to offer product delivery from local stores |website=TechCrunch |date= February 2019|author= Jon Russell|access-date= 13 August 2019}}{{cite web |url=https://www.theweek.in/theweek/business/2019/04/26/how-food-aggregator-apps-like-swiggy-zomato-are-trying-innovative-business-methods.html |title=How food aggregator apps like Swiggy, Zomato, are trying innovative business methods |newspaper=The Week |date= 27 April 2019 |author= Abhinav Singh|access-date= 13 August 2019}}{{cite web|author=Deepti Chaudhary|date=15 March 2019|title=Can Swiggy take more orders?|url=https://www.fortuneindia.com/enterprise/can-swiggy-take-more-orders/103045|access-date=13 August 2019|magazine=Fortune}} In September 2019, Swiggy launched the instant pickup/dropoff service Swiggy Go, allowing customers to send document or parcel deliveries.{{Cite web|url=https://techcrunch.com/2019/09/04/swiggy-delivery-anything-dunzo/|title=India's Swiggy has a new service that will deliver just about anything|website=TechCrunch|date=4 September 2019 |access-date=2 March 2020}}{{Cite web|url=https://www.livemint.com/companies/news/swiggy-launches-instant-pick-up-and-drop-service-swiggy-go-1567582575602.html|title=Swiggy launches instant pick up and drop service 'Swiggy Go'|date=4 September 2019|website=Livemint}} In April 2020, it rebranded Swiggy Go as Swiggy Genie.{{cite news |last1=Singh |first1=Jitendra |title=Swiggy expands grocery delivery service to more cities; rebrands Swiggy Go |url=https://entrackr.com/2020/04/swiggy-expands-its-grocery-delivery-service-to-more-cities |access-date=25 January 2022 |work=Entrackr |date=9 April 2020}} During the COVID-19 pandemic, it began doorstep delivery of alcohol in the states of Jharkhand, West Bengal and Odisha.{{cite news |title=Swiggy starts home delivery of alcohol with new verification feature in Ranchi, plans to extend it to more cities soon |url=https://timesofindia.indiatimes.com/gadgets-news/siwggy-starts-home-delivery-of-alcohol-with-new-verification-feature/articleshow/75864041.cms |access-date=14 March 2023 |work=The Times of India |date=21 May 2020}}{{cite news |last1=Bhalla |first1=Kritti |title=Zomato Exits Alcohol Delivery Due To Cashburn Even As Swiggy Stays Put |url=https://inc42.com/buzz/zomato-exits-alcohol-delivery-due-to-cashburn-even-as-swiggy-stays-put/ |access-date=14 March 2023 |work=Inc42 |date=24 April 2021 |language=en}}

In May 2020, Swiggy laid off 1,100 employees during the COVID-19 pandemic.{{cite news|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-sacks-1100-employees-as-covid-19-derails-cloud-kitchens/articleshow/75801555.cms|title=Swiggy lays off 1,100 employees as Covid-19 derails Cloud kitchens|date=19 May 2020|access-date=20 May 2020|newspaper=The Economic Times}} The pandemic also resulted in the shut down of more than three-fourths of its cloud kitchens.{{cite news |title=COVID forced us to shut three-fourths of cloud kitchens: Swiggy CEO |url=https://www.businesstoday.in/latest/corporate/story/covid-forced-us-to-shut-three-fourths-of-cloud-kitchens-swiggy-ceo-313620-2021-11-26 |access-date=27 February 2023 |work=Business Today |date=26 November 2021 |language=en}}

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In August 2020, Swiggy launched its instant grocery delivery service called Instamart using a network of dark stores.{{cite news |last1=Upadhyay |first1=Harsh |title=Swiggy launches 45-min grocery and essentials delivery service via Instamart |url=https://entrackr.com/2020/08/swiggy-launches-45-min-grocery-and-essentials-delivery-service-via-instamart/ |access-date=15 November 2021 |work=Entrackr |date=10 August 2020}}{{cite news |last1=Sil |first1=Debarghya |title=Swiggy Launches InstaMart; Promises To Deliver Groceries Within 45 Minutes |url=https://www.entrepreneur.com/article/354557 |work=Entrepreneur |date=11 August 2020 |language=en}} In early 2021, the company closed Swiggy Stores and expanded its operations under Instamart.{{cite news |title=Swiggy Ends Grocery Marketplace Experiment As Focus Turns To Dark Stores |url=https://inc42.com/buzz/swiggy-shuts-grocery-marketplace-as-focus-turns-to-dark-stores/ |access-date=15 November 2021 |work=Inc42 Media |date=20 January 2021}}

In 2023, it sold Swiggy Access kitchens to Kitchens@ in a share-swap deal.{{cite news |last1=Bhushan |first1=Kul |title=Swiggy sells Access Kitchens business to Kitchens@ |url=https://entrackr.com/2023/03/swiggy-sells-access-kitchens-business-to-kitchens/ |access-date=2 March 2023 |work=Entrackr |date=2 March 2023}}

In January 2024, Swiggy laid off 400 employees, or 6% of its workforce, ahead of IPO.{{cite news |title=Swiggy to fire 400 employees in the fresh round of layoffs: Story in 5 points |url=https://www.indiatoday.in/technology/news/story/swiggy-fires-400-employees-in-the-fresh-round-of-layoffs-story-in-5-points-2493902-2024-01-26 |access-date=9 March 2024 |work=India Today |language=en}}{{cite news |last1=Saha |first1=Soumyajit |title=Swiggy to lay off 6% of workforce impacting 400 jobs ahead of IPO |url=https://economictimes.indiatimes.com/tech/startups/swiggy-to-layoff-6-of-workforce-impacting-400-jobs-sources/articleshow/107146131.cms?from=mdr |website=The Economic Times|date=26 January 2024 }}

In April 2024, Swiggy converted itself into a public limited company{{cite news |title=Swiggy converts to public limited company ahead of IPO |url=https://economictimes.indiatimes.com/tech/startups/swiggy-converts-to-public-limited-company-ahead-of-ipo/articleshow/109139339.cms |access-date=7 May 2024 |work=The Economic Times |date=9 April 2024}} and confidentially filed for an initial public offering.{{cite news |last1=C |first1=Priyamvada |title=Swiggy makes confidential filing for IPO |url=https://www.livemint.com/companies/news/swiggy-makes-confidential-filing-for-ipo-11714137512549.html |access-date=7 May 2024 |work=Mint |date=26 April 2024 |language=en}} Swiggy launched its initial public offering (IPO) in November 2024 at ₹390 per share, valuing the company at $11.3 billion.{{cite news |title=Swiggy IPO sees 3.6x subscription |url=https://timesofindia.indiatimes.com/business/india-business/swiggy-ipo-sees-3-6x-subscription/articleshow/115092850.cms |access-date=15 November 2024 |work=The Times of India |date=8 November 2024}}

In December 2024, Swiggy launched an events and ticketing service called Scenes.{{cite news |last1=Ranipeta |first1=Shilpa |title=Swiggy launches 'Scenes' for live events, takes on Zomato's 'District' |url=https://www.cnbctv18.com/travel/food-and-drinks/swiggy-launches-scenes-for-live-events-takes-on-zomatos-district-19524329.htm |access-date=9 February 2025 |work=CNBCTV18 |date=14 December 2024 |language=en}} In May 2025, it shut down its same-day package delivery service Swiggy Genie.{{cite news |title=Swiggy shuts down hyperlocal delivery arm Genie |url=https://www.moneycontrol.com/news/business/startup/swiggy-shuts-down-hyperlocal-delivery-arm-genie-13013492.html |access-date=14 May 2025 |work=Moneycontrol |date=5 May 2025}}

In 2015, Swiggy received a $2 million investment from Accel and SAIF Partners, along with additional investment from Norwest Venture Partners. The following year, it raised $15 million from both previous and new investors, including Bessemer Venture Partners and Harmony Partners.

In 2017, Naspers led an $80 million funding round into Swiggy. In February 2018, Swiggy raised $100 million from Naspers and Meituan-Dianping.{{cite news |last1=Agarwal |first1=Meha |title=Swiggy Gets $100 Mn In Series F Funding From Naspers And Meituan-Dianping |url=https://inc42.com/buzz/food-swiggy-naspers-funding/ |access-date=9 March 2024 |work=Inc42 Media |date=8 February 2018 |language=en}} By September 2018, Swiggy was valued at around $3.3 billion, and in April 2020, Swiggy was valued at around $3.6 billion.{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/swiggy-gets-another-43m-from-tencent-samsung/articleshow/75018035.cms|title=Swiggy gets another $43m from Tencent, Samsung|date=7 April 2020|work=The Times of India|access-date=7 April 2020}}

In July 2021, Swiggy raised $1.25 billion from SoftBank, Prosus, and other investors, at a valuation of $5.5 billion.{{cite news |last1=Singh |first1=Manish |title=Indian food delivery startup Swiggy raises $1.25 billion led by SoftBank and Prosus |url=https://techcrunch.com/2021/07/20/indian-food-delivery-startup-swiggy-raises-1-25-billion-led-by-softbank-and-prosus/ |access-date=4 January 2023 |work=TechCrunch |date=20 July 2021}}

In January 2022, Swiggy's valuation rose to $10.7 billion after a $700-million fundraise led by US asset manager Invesco.{{cite news| url=https://economictimes.indiatimes.com/tech/funding/swiggy-turns-decacorn-closes-700-million-round-led-by-invesco-at-10-7-billion-valuation/articleshow/89090338.cms| title=Swiggy's valuation rises to $10.7 billion after $700-million fundraise |work=Indiatimes|access-date = 25 January 2022|last1=Bhalla |first1=Tarush }}

• In 2018, Swiggy acquired Mumbai-based Scootsy Logistics, a high-end food and essentials delivery service,{{cite news|url=https://tech.economictimes.indiatimes.com/news/startups/swiggy-acquires-on-demand-delivery-firm-scootsy-for-rs-50-crore/65238251|title=Swiggy acquires on-demand delivery firm Scootsy for Rs 50 crore|work=ETtech.com|access-date=31 August 2019|last1=Srinivasan|first1=Supraja|archive-date=31 August 2019|archive-url=https://web.archive.org/web/20190831124838/https://tech.economictimes.indiatimes.com/news/startups/swiggy-acquires-on-demand-delivery-firm-scootsy-for-rs-50-crore/65238251|url-status=dead}} and ultimately merged the company's operations into itself in 2020.{{Cite news|title=Swiggy to shutter its premium food delivery service Scootsy|url=https://tech.economictimes.indiatimes.com/news/internet/swiggy-plans-to-shut-its-premium-food-delivery-services-scootsy/76249176|access-date=2020-06-20|newspaper=The Economic Times|language=en|archive-date=7 August 2020|archive-url=https://web.archive.org/web/20200807224415/https://tech.economictimes.indiatimes.com/news/internet/swiggy-plans-to-shut-its-premium-food-delivery-services-scootsy/76249176|url-status=dead}} In 2022, Scootsy launched private label products retailed on Swiggy Instamart.{{cite news |last1=Mittal |first1=Apoorva |title=Swiggy begins selling private label brand Supreme Harvest on Instamart |url=https://economictimes.indiatimes.com/tech/technology/swiggy-begins-selling-private-label-brand-supreme-harvest-on-instamart/articleshow/93169065.cms |access-date=15 September 2023 |work=The Economic Times |date=28 July 2022}}
• In September 2018, it acquired Mumbai-based milk delivery startup SuprDaily.{{Cite news|url=https://www.business-standard.com/article/companies/swiggy-plans-biz-beyond-food-with-50-dark-pods-buys-start-up-suprdaily-118090601481_1.html|title=With an eye on concierge services, Swiggy acquires SuprDaily|last=Pahwa|first=Patanjali|date=7 September 2018|newspaper=Business Standard India|access-date=22 March 2020}} In 2023, SuprDaily was rebranded as InsanelyGood, which was repositioned as a grocery delivery service.{{cite news |title=Swiggy's Supr Daily rebrands as InsanelyGood, enters grocery space |url=https://www.moneycontrol.com/news/business/swiggys-supr-daily-rebrands-as-insanelygood-enters-grocery-space-10230591.html |access-date=15 September 2023 |work=Moneycontrol |date=10 March 2023 |language=en}}
• In 2022, Swiggy acquired the dining and table reservation platform Dineout from Times Internet in an all-stock deal valued at $120 million.{{cite news |title=Swiggy buys Dineout from Times Internet in $120 million all-stock deal |url=https://economictimes.indiatimes.com/tech/startups/swiggy-acquires-restaurant-booking-platform-dineout/articleshow/91539111.cms |access-date=3 January 2023 |work=The Economic Times}}
• In 2023, Swiggy acquired retail distribution company LYNK Logistics from the Ramco Group.{{cite news |title=Swiggy acquires Lynk |url=https://timesofindia.indiatimes.com/business/india-business/swiggy-acquires-lynk/articleshow/101725511.cms |access-date=6 December 2023 |work=The Times of India |date=13 July 2023}}

• In 2017, Swiggy acqui-hired Bangalore-based Asian food start-up 48East.{{cite news|url=https://economictimes.indiatimes.com/small-biz/startups/newsbuzz/swiggy-acquihires-48east-team-adds-to-senior-leadership/articleshow/62050029.cms|title=Swiggy acquihires 48East team, adds to senior leadership|date=13 December 2017|access-date=31 August 2019|newspaper=The Economic Times|last1=Srinivasan|first1=Supraja}}{{cite web|url=https://inc42.com/buzz/swiggy-acqui-hire-48east-swiggy-access|title=Swiggy Acqui-hires Gourmet Asian Food Startup 48East|date=13 December 2017|access-date=31 August 2019}}
• In 2019, the company acqui-hired the artificial intelligence startup Kint.io.{{cite news |last1=Abrar |first1=Peerzada |title=Swiggy Acqui-hires AI startup Kint.io to provide better customer experience |url=https://www.business-standard.com/article/companies/swiggy-acqui-hires-ai-startup-kint-io-to-provide-better-customer-experience-119020401283_1.html |access-date=3 January 2023 |work=www.business-standard.com |date=4 February 2019 |language=en}}

• In 2019, Swiggy, invested {{INR}}31 crore in Mumbai-based ready-to-eat food brand Fingerlix.{{cite news|url=https://tech.economictimes.indiatimes.com/news/startups/swiggy-takes-a-bite-of-fingerlix-invests-rs-31-crore-in-food-brand/68153135|title=Swiggy takes a bite of Fingerlix, invests Rs. 31 crore in food brand|work=ETtech.com|access-date=31 August 2019|last1=Kar|first1=Sanghamitra|archive-date=31 August 2019|archive-url=https://web.archive.org/web/20190831090640/https://tech.economictimes.indiatimes.com/news/startups/swiggy-takes-a-bite-of-fingerlix-invests-rs-31-crore-in-food-brand/68153135|url-status=dead}}
• In 2022, Swiggy led a $180 million Series D investment round in bike taxi company Rapido.{{cite news |last1=Singh |first1=Manish |title=Swiggy backs bike taxi platform Rapido in $180 million funding |url=https://techcrunch.com/2022/04/15/swiggy-rapido/ |access-date=3 January 2023 |work=TechCrunch |date=15 April 2022}}

In 2020, Swiggy launched a digital wallet, Swiggy Money, in partnership with ICICI Bank.{{Cite web|url=https://cio.economictimes.indiatimes.com/news/enterprise-services-and-applications/swiggy-launches-digital-wallet-in-tie-up-with-icici-bank/76723697|title = Swiggy launches Digital Wallet in tie-up with ICICI Bank - ET CIO}} In January 2022, Swiggy and drone company ANRA Technologies began trialing drone deliveries.{{Cite news|title=Swiggy, ANRA get approval to start drone trials for food delivery|work=The Economic Times|url=https://economictimes.indiatimes.com/tech/startups/swiggy-anra-get-approval-to-start-drone-trials-for-food-delivery/articleshow/83574991.cms|access-date=2022-01-11}} In 2023, Swiggy partnered with Gogoro to provide smart scooters to delivery partners.{{Cite web |title=Gogoro partners with Swiggy to provide smart scooters to delivery partners|url=https://energy.economictimes.indiatimes.com/news/power/gogoro-partners-with-swiggy-to-provide-smart-scooters-to-delivery-partners/105768985 |access-date=2024-04-27 |website=ETEnergyworld.com |language=en}}

In 2024, Swiggy partnered with IRCTC to deliver food in railway stations.{{Cite news |date=2024-03-05 |title=IRCTC partners Swiggy to deliver food starting with four stations across India |url=https://www.thehindu.com/sci-tech/technology/irctc-partners-swiggy-to-deliver-food-starting-with-four-stations-across-india/article67916414.ece |access-date=2024-04-27 |work=The Hindu |language=en-IN |issn=0971-751X}} Swiggy Instamart partnered with Park+ for doorstep delivery of FASTags.{{Cite web |date=2024-04-02 |title=Swiggy Instamart Partners With Park+ For Lightning-Fast Delivery Of IndusInd Bank FASTags |url=https://www.news18.com/auto/swiggy-instamart-partners-with-park-for-lightning-fast-delivery-of-indusind-bank-fastags-8835852.html |access-date=2024-04-27 |website=News18 |language=en}} Swiggy became the official sponsor of Season 4 of Shark Tank India.{{Cite news |url=https://www.business-standard.com/entertainment/kunal-bahl-joins-shark-tank-india-4-panel-as-swiggy-removes-deepinder-goyal-nc-124100800837_1.html |title=Kunal Bahl joins Shark Tank India 4 panel as Swiggy removes Deepinder Goyal |first=Sudeep |last=Singh Rawat |date=October 8, 2024 |website=business-standard.com |access-date=October 11, 2024}}

In October 2024, Swiggy Instamart partnered with PharmEasy for quick-commerce delivery of medicines.{{cite news |title=Swiggy Instamart looks to strengthen pharmacy play 10-minute medicine deliveries |url=https://www.moneycontrol.com/news/business/startup/swiggy-partners-with-pharmeasy-to-start-medicine-deliveries-through-instamart-12851094.html |access-date=9 February 2025 |work=Moneycontrol}}

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