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Funding History
MUMBAI|NEW DELHI: Global technology hedge fund Coatue Management is in talks with a few others to invest $50-100 million in online food delivery platform Swiggy, three people familiar with the matter said.

" The move comes less than two months after South African media giant Naspers and Chinese eCommerce firm Meituan-Dianping invested $100 million in the Bengaluru-based startup, underlining how pace of investment in India’s digital market is picking up again."

Coatue and Meituan-Dianping, besides two other investors who could not be identified, are in talks to invest in Swiggy, which was valued at $700 million last month as per financial documents sourced from data research platform Tofler. Meituan-Dianping invested $40 million in the $100-million round.

Coatue has been talking to Swiggy for the last few months, before the previous round of funding was closed," said one of the people, adding that a deal was not final yet. It is not clear if the investment will be an extension of the previous round or a new one, as Swiggy looks to beef up.

BENGALURU: Online food ordering and delivery platform Swiggy on Monday said it would use privately-run ICICI Bank to allow its delivery fleet to make digital payments.

"Through the use of Unified Payment Interface (UPI)-based solution for instant fund transfers and automated cash deposit machines at ICICI Bank branches and ATMs across the country, the delivery fleet will have a hassle-free way of transferring funds," the company said in a statement.

Swiggy's Business Model:
Swiggy is food ordering and delivering company based in Bangalore. It delivers the food ordering from a wide range of restaurants and have their own exclusive service of delivering orders from restaurants and deliver it to customers. It is a complete food ordering and delivery solution that connects neighborhood restaurants with urban foodies.

Swiggy has two main earning sources:

 * Most of the profit of Swiggy’s come from the commission it collects from restaurants for serving as a delivery and pickup partner.


 * Swiggy also take delivery charge from customers on orders less then certain amount which is around 200 rupees for most cities.

Swiggy's Marketing Strategies:
Swiggy’s selling improvement through marketing is based on both online and offline marketing campaigns.It enlages its campaigns via Facebook, Twitter, Youtube, Pinterest, and Instagram. Some of its campaigns are promoted through the various campaigns like, #Secondtomom, #DiwaliGhayAayi, #SingwithSwiggy. The company has successfully built its brand awareness and connects with its audience through these channels. They keep themselves involved in advertising through social media as they kept their campaigns active through that. Swiggy uses its Social media not only for campaigning but to engage with the customers while taking their feedback and solving their difficulties via food delivery.

Upcoming trend of online food delivery in India.
The Food Delivery Apps That Are Competing with each other to gain customer base in India. In the developing cities in India, there's a huge headache while traveling, due to traffic. The delivering firms have their plus point in it as people started to o rder food at home rather than going to restaurant. In support of that the Euromonitor International wrote, “Last year the number of households eating at home every day witnessed a visible decline. This decline resulted in a large proportion of the household/consumer base ordering food in, thereby helping to drive the growth of 100% home delivery.”

More than 80% order for food delivery comes from the top five developed cities of India out of more than 20 cities where online food delivery is active in this country. Because of this the food delivery services are now only focusing on the developing cities where there is more opportunity of business development. This could be a drawback for other cities as the delivering companies have stop experimenting over newer cities.

There are many more food delivering companies like Zomato, FoodPanda, GoogleAreo and UberEats. They are also figuring out the most efficient ways to deliver tasty food in India. Because of that, Indians customers are increasingly becoming spoilt for choices as they have this many options to choose from, they can now easily discover any kind of food from anywhere, This kind of large market is actually proving beneficial for both, the customers and owners of the restaurant. Population of India has always been an headache for citizen. Even in case of traffic or waiting at every place. In spite of that now people can decorate their plates just by clicking a button on an app.

The journey of Swiggy
The entrepreneurial journey of swiggy is quite interesting. Swiggy was started by Sriharsha (Harsha) Majety, the current founder and CEO of swiggy. Sriharsha (Harsha) Majety wanted to enter the field of entrepreneurship since a long time as she comes from the background of entrepreneurs. “Entrepreneurship was always in my blood. My father runs a restaurant in Vijayawada, and plans to invest in the hospitality sector and my mother is a doctor by profession and has her own clinic. She is also planning to start her own chain of beauty parlours. Seeing my family members being in charge, and taking control of what they do was an inspiration from early years.” says Harsha. Harsha loved travelling. He went on many trips across south-east asia and Europe which offered her calmness and patience. He even took a bicycle trip across Portugal to turkey by himself, in his love for travelling. These and many such other incidents made Harsha believe that issues of short-term can be resolved by not trying to put too much pressure and thinking about the long-term goals. One of the important personality that Harsha had was persevering. He was ready and excited to commit to it. This is one of the reasons that before entering into IIM Calcutta he took a one year gap. Besides he has an engineering degree from BITS Palani. He even got a job in London but he decided to skip over it. As he explains, “London was exciting, but the job wasn’t and halfway through the year I figured out that I needed to find more exciting things to do with my life so I took the hard decision of leaving London, and choosing to come back to India with no plan in mind. But I was sure of one thing – that whatever I was going to do in India was a long and hard commitment.” “In this journey of entrepreneurship, I was only very stubborn about loving what I was doing. When I left UK, I was sure that this is the only route. I was happy to work with early start-ups if they would hire me. But, as luck would have it none of my circle was closely involved in starting up at that time. Hence, I had no other option but to dive in myself.” Harsha had inhaled his inspiration from Phanindra Sama, the founder of redbus. When he returned to india he saw the growth of redbus and how it made an important decision by going public. He started discussing his ideas with Nandan Reddy, the cofounder of swiggy. They had a huge opportunity by seesing the success ratios of online companies like Amazon, Flipkart and more. In this journey they needed a technology cofounder, vital for every startup. By the time they could get one person for that; the big companies started shipping themselves, who originally did not know how to contact distributing agency. They had to shut down their first venture. For this harsha says, “Our experience in Bundle made us realise that logistics companies were pathetic at utilising technology to help their business. We took that as a cue, and wanted to start another venture with intersection of technology and logistics. We didn’t want any aggregators and build a logistics company that utilised technology to create customer delight.” “There was no large company with ideas similar to ours and hence we saw a competitive advantage of building a hyperlocal delivery platform that moved things fast in the city,” adds Harsha. Resultantly, by the founder ‘s inducement and hard-core efforts, he was able to successfully raise his company in a hyper local delivery platform and huge name for online delivery platform.

Funding
Swiggy's revenue is the third highest among it's top 10 competitors. The total funding amount of swiggy stands at $255.5 million after its last funding round on February 8, 2018. There are total 7 funding rounds done till date and they are:

Series A:
It was announced on April 3, 2015 and was in the early stage venture of funding stage which was backed by two investors- SAIF and Accel partners. It raised the money by $2 million.

Series B

 * It was announced on June 4, 2015 and it also indicates an early stage venture of funding stage backed by three investors- SAIF partners, Norwest ventures and Accel partners. It raised the money by $16.5 million.

Series C

 * It was announced on Jan 18, 2016 and it indicates a late stage venture of funding stage backed by the above mentioned investors with two additional investors- RB Investments and Harmony partners. It raised the money by $35 million.

Series D
It was announced on September 19, 2016 and it also indicates a late stage venture of funding stage backed by 4 investors- SAIF Partners, Norwest ventures, Bessemer ventures and Accel partners. It raised the money by $15 million.

Series E
- It was announced on May 30, 2017 and it indicates a late stage venture of funding stage backed by the investors of series D and also two additional investors- Naspers and Harmony partners. It raised the money by $80 million.

Series F
- It was announced on February 8, 2018 indicating late stage venture backed by two investors- Naspers and Meituan-Dianping. It raised the money by $100 million with pre-money valuation at $500 million. With this new funding it is expected that swiggy will strengthen its market by introducing advanced products and services. Swiggy has seen a record increase of 500 % in revenues in the last financial year and saw order volumes nearly double since its previous funding in May 2017. With each funding, growth is seen in swiggy's business.