Swiggy, a Bangalore-based online, on-demand food ordering startup has grabbed a $2 Million round from Accel partners and SAIF Partners. Swiggy acts similar to the way Foodpanda works, by aggregating orders from nearby restaurants and then delivering them to customers.
While online food delivery is quite a trend these days, Swiggy claims that its smartphone-equipped delivery personnel and routing algorithms, differentiate it from other similar services.Moreover, Swiggy’s focus continues to remain on the logisitical aspecyts of on-demand food ordering, an avenue which needs some real, serious thinking considering India’s growing traffic woes.
Sriharsha Majety, Co-Founder and CEO at Swiggy says,
We have established ourselves as a superior food delivery service in Bangalore, and our repeat percentages and engagement levels are off the charts.
Swiggy started operations in August 2014 in the Koramangala neighbourhood of Bangalore and claims to be growing at a very fast pace since. The startup was co-founded by BITS Pilani Alums Sriharsha Majety & Nandan Reddy, along with ex-Myntra developer Rahul Jaimini.
While Swiggy’s in-principle functioning remains similar to that of Food panda or other similar services, the startup offers certain lucrative benefits, like No Minimum order and Free Delivery for all sorts of orders.
On-demand food ordering has lately become a growing, but increasingly scattered market in India. While many on-demand food ordering startups have either raised, or are in the process of raising funds, a consolidation of market by larger , more dominant players looks inevitable.