“It’s almost always harder to raise capital than you thought it would be, and it always takes longer. So plan for that.” – Richard Harroch, Venture Capitalist and Author
Yes, it is hard to raise capital. But, with so many investors looking to invest money in Indian start-ups, the future looks pretty bright. Acting on the toes with the recent fundraising, Bengaluru based food ordering start-up Swiggy is poised to hire more than 12,000 delivery executives in the coming months. The company has roped in funds of approximately INR. 104 crore from venture capitalist firm Norwest Venture Partners along with Accel Partners and SAIF Partners. After expanding their office spaces to Gurgaon and Hyderabad, they are now looking to sow of seeds of operations in Chennai, Delhi and Mumbai. Currently, Swiggy has a team of more than 640 delivery executives. However, this number is set to witness a tremendous surge in coming months. Big players from the segment, Zomato and TinyOwl will be keeping a close eye on this recent development.
A brainchild of three budding entrepreneurs, Swiggy was founded by Birla Institute of Technology and Science alumni Sriharsha Majety and Nandan Reddy along with IIT Kharagpur graduate Rahul Jaimini. True to its vision, ‘We are all about Food’, Swiggy has been successful in carving out a name for themselves in a very short span of time. The company plies its trade depending on a fleet of delivery executives who pick-up orders from restaurants and deliver it to the customers. This process comes in handy as they do not follow a minimum order policy that is prevalent in other restaurants. And, to pull off a sort of Blitz Krieg type of delivery model, Swiggy’ bragging rights are fast deliveries and online payments. To make sure that operations run smooth and quick, the company has a team of some of the finest managerial minds picked out of the young Indian business hotbed.
The news will be welcomed with open arms by the budding executives looking to leave a mark in the food ordering industry. The training modules for on-boarding process are specifically designed to imbibe the values of fast growth and responsible execution amongst all the employees. Last August, the senior team launched Swiggy in Koramangala, one of the largest neighborhoods in Bengaluru. It promises to deliver food in about 35 minutes. The delivery executives use smartphones and an app powered by an algorithm for an efficient way of delivering food. Consumers can also discover popular restaurants and track their food orders in real time. With so much innovation in the pipeline and investor backing, Swiggy is looking rub shoulders with the industry big players in a very quick and efficient pattern.