The idea for Swiggy came in 2014, when the founders realized that there was a huge gap in the food ordering and delivery space. Restaurants often faced manpower problems and their delivery personnel were also not trained to deliver food in time. Swiggy started as a small setup in August 2014, with a team of six delivery personnel and covering 25 restaurants. However, the idea soon became a huge hit among customers and restaurants alike. Swiggy now has operations in 8 cities and more than 10,000 restaurants on its platform.
Swiggy has received investments worth USD 155.5 million via six rounds of funding. Investors include SAIF Partners, Harmony Partners, Naspers, Norwest Venture Partners, Bessemer Venture Partners, and Accel Partners.
Swiggy had acquired gourmet food startup '48East' in December 2017. The acquisition of 48East has helped Swiggy to strengthen its service offerings and add additional capabilities as well. The deal was done for an undisclosed amount.
Swiggy competes with other players in the food ordering and delivery space such as Zomato, Box8, Holachef, Dineout, etc.