Swiggy
Company History
Swiggy History: Founding, Growth & Key Milestones
Founded 2014 in Bengaluru, Karnataka, India
When was Swiggy founded?
Swiggy was founded in 2014 in Bengaluru, Karnataka, India by Sriharsha Majety, Nandan Reddy and Rahul Jaimini, making it 12 years old.
- Founded
- 2014
- Founding place
- Bengaluru, Karnataka, India
- Founders
- Sriharsha Majety, Nandan Reddy and Rahul Jaimini
- Headquarters today
- Bengaluru, Karnataka, India
- Milestones documented
- 11 (2014–2026)
- Current CEO
- Sriharsha Majety
- Acquisitions
- 3
| Year | Event |
|---|---|
| 2014 | Swiggy incorporated in Bengaluru by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini with |
| 2015 | Raises $2 million Series A funding from SAIF Partners and Accel India, expanding across ma |
| 2018 | $210 Million Round, Then $1 Billion |
| 2019 | Launches Swiggy Genie pickup-and-drop service and expands restaurant network to 100+ citie |
| 2020 | Pioneers grocery quick commerce in India by launching Swiggy Instamart during COVID-19 pan |
| 2021 | Launches Swiggy One unified subscription program, integrating food, grocery, and delivery |
| 2022 | Acquires dining out platform Dineout from Times Internet for $120 million; raises $700M at |
| 2023 | Achieves contribution profitability in core food delivery business and expands dark store |
| 2024 | Completes ~$1.31 billion (₹11,327 crore) IPO on NSE and BSE |
| 2025 | Exits Rapido stake for about $278 million (₹2,400 crore) |
| 2026 | FY2026 revenue reaches ~$2.67 billion (₹23,053 crore) |
- Where was Swiggy founded?
- Swiggy was founded in Bengaluru, Karnataka, India in 2014.
- Who founded Swiggy?
- Swiggy was founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini.
- When did Swiggy start?
- Swiggy was founded in 2014.
- How old is Swiggy?
- Swiggy is 12 years old as of 2026.
Founding Story
In 2013, after completing his engineering degree at BITS Pilani and an MBA at IIM Calcutta, Sriharsha Majety teamed up with fellow BITS alumnus Nandan Reddy to launch Bundl Technologies, a logistics software startup designed to help small e-commerce merchants ship goods across India. Within a year, Bundl folded due to intense competition and shifting logistics dynamics. Refusing to abandon entrepreneurship, Majety and Reddy analyzed the rapid rise of on-demand platforms like DoorDash in the US and Meituan in China. They realized that urban Indian consumers were starved for reliable food delivery. In August 2014, joined by tech co-founder Rahul Jaimini, they launched Swiggy with just six delivery executives and 25 restaurant partners in Koramangala, Bengaluru. To ensure flawless execution, Majety and Reddy personally monitored orders and resolved customer complaints on the phone. By guaranteeing deliveries with no minimum order thresholds and building an app that allowed customers to follow their delivery partner on a live Google Map, Swiggy ignited viral adoption across tech hubs and urban universities.
Founders
Sriharsha Majety
Sriharsha Majety co-founded Swiggy in 2014. After the absolute failure of his first logistics startup (Bundl), he pivoted aggressively. Recognizing that existing food delivery services in India were incredibly unreliable, he designed Swiggy to own its entire delivery fleet, absolutely revolutionizing the speed and reliability of Indian food delivery. Sriharsha Majety was born in 1986.
Nandan Reddy
Nandan Reddy co-founded Swiggy in 2014. Alongside Majety, he was absolutely critical in building the initial operational framework, meticulously managing the highly complex logistics required to route thousands of delivery drivers across the chaotic, unpredictable streets of Bangalore during the company's hyper-growth phase. Nandan Reddy was born in 1987.
Rahul Jaimini
Rahul Jaimini co-founded Swiggy in 2014. Coming from Myntra, he served as the absolutely critical technical architect. He built the initial, highly robust app and routing algorithms that allowed Swiggy to process massive volumes of real-time orders without crashing, before leaving the company in 2020. (Exact birth year remains publicly undisclosed).
Key Milestones
Swiggy incorporated in Bengaluru by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini with
Swiggy incorporated in Bengaluru by Sriharsha Majety, Nandan Reddy, and Rahul Jaimini with 6 delivery partners.
Source: en.wikipedia.orgRaises $2 million Series A funding from SAIF Partners and Accel India, expanding across ma
Raises $2 million Series A funding from SAIF Partners and Accel India, expanding across major Indian metros.
Source: en.wikipedia.org$210 Million Round, Then $1 Billion
Becomes a unicorn after a $210 million round led by Naspers and DST Global, then raises $1 billion in December 2018 led by Naspers and Tencent.
Source: en.wikipedia.orgLaunches Swiggy Genie pickup-and-drop service and expands restaurant network to 100+ citie
Launches Swiggy Genie pickup-and-drop service and expands restaurant network to 100+ cities.
Source: en.wikipedia.orgPioneers grocery quick commerce in India by launching Swiggy Instamart during COVID-19 pan
Pioneers grocery quick commerce in India by launching Swiggy Instamart during COVID-19 pandemic.
Source: en.wikipedia.orgLaunches Swiggy One unified subscription program, integrating food, grocery, and delivery
Launches Swiggy One unified subscription program, integrating food, grocery, and delivery savings.
Source: en.wikipedia.orgAcquires dining out platform Dineout from Times Internet for $120 million; raises $700M at
Acquires dining out platform Dineout from Times Internet for $120 million; raises $700M at $10.7B valuation.
Source: en.wikipedia.orgAchieves contribution profitability in core food delivery business and expands dark store
Achieves contribution profitability in core food delivery business and expands dark store footprint.
Source: en.wikipedia.orgCompletes ~$1.31 billion (₹11,327 crore) IPO on NSE and BSE
Swiggy listed on the NSE (SWIGGY) and BSE in November 2024 after raising ₹11,327 crore (about $1.35 billion).
Source: en.wikipedia.orgExits Rapido stake for about $278 million (₹2,400 crore)
Sells its roughly 12% stake in Rapido to Prosus and WestBridge for about $278 million (₹2,400 crore).
Source: indianexpress.comFY2026 revenue reaches ~$2.67 billion (₹23,053 crore)
Reports FY2026 revenue of ~$2.67 billion (₹23,053 crore) and a ~$482 million (₹4,154 crore) net loss; Q1 FY2027 loss narrows to ~$91.8 million (₹791 crore).
Source: economictimes.indiatimes.comMajor Acquisitions
Dineout
2022Acquired dining-out and restaurant table reservation platform Dineout from Times Internet in an all-stock transaction.
Supr Daily
2018Acquired subscription-based milk and grocery delivery startup Supr Daily to pioneer early-morning essential deliveries.
Scootsy
2018Acquired Mumbai-based premium food, gourmet grocery, and lifestyle delivery service Scootsy.
Keep researching Swiggy
Swiggy Company History FAQ
When, where, and by whom was Swiggy originally founded?
Swiggy was founded in August 2014 in the Koramangala neighborhood of Bengaluru, Karnataka, India, by Sriharsha Majety (Group CEO), Nandan Reddy, and Rahul Jaimini. The trio initially operated out of a small office with just 6 delivery executives and 25 partner restaurants.
What was Bundl Technologies and how did its failure lead to Swiggy?
In 2013, Sriharsha Majety and Nandan Reddy founded Bundl Technologies, an online logistics software aggregator designed to help small e-commerce merchants coordinate courier shipping across India. After shutting Bundl down due to low market traction, the founders recognized that hyperlocal on-demand food delivery was an enormous, underserved consumer opportunity.
How did Swiggy's dedicated delivery fleet disrupt the Indian food tech industry in 2014?
Prior to Swiggy, platforms like Zomato operated primarily as restaurant discovery directories and menus, relying on restaurants' own unreliable staff for delivery. Swiggy built its own dedicated, smartphone-equipped delivery fleet with live GPS tracking, guaranteeing delivery in under 40 minutes and setting a new industry benchmark.
When and why did Swiggy launch Instamart, and how did it pioneer quick commerce?
Swiggy launched Instamart in August 2020 during the COVID-19 pandemic in Gurugram and Bengaluru. Operating dedicated neighborhood micro-fulfillment centers ("dark stores"), Instamart pioneered 10-to-15-minute delivery for groceries, fresh produce, and household essentials, sparking India's quick commerce revolution.
What was Swiggy's major acquisition of Dineout in 2022?
In May 2022, Swiggy acquired dining-out and restaurant reservation platform Dineout from Times Internet for approximately $120 million in an all-stock deal. This allowed Swiggy to expand beyond home delivery into table reservations, in-restaurant bill payments, and dining discounts.
When did Swiggy complete its Initial Public Offering (IPO) in India?
Swiggy completed its landmark ₹11,327 crore (~$1.35 billion USD) IPO in November 2024, listing on the National Stock Exchange of India (NSE) and Bombay Stock Exchange (BSE) with an initial market capitalization of approximately ₹95,000 crore (~$11.3 billion USD).
Who were Swiggy's largest venture capital investors prior to its public listing?
Prior to its IPO, Swiggy raised over $3.6 billion from marquee global investors, including South African tech giant Prosus (Naspers, holding over 30%), SoftBank Vision Fund 2, Accel, Elevation Capital, Tencent, Invesco, and DST Global.
Why did co-founder Rahul Jaimini leave Swiggy in 2020?
In May 2020, co-founder and Chief Technology Officer Rahul Jaimini stepped down from his active operational role at Swiggy to join Pesto Tech, an ed-tech startup focused on remote career acceleration for Indian software engineers, while remaining a shareholder and board member.
What is "Swiggy One" and when was it introduced?
Introduced in late 2021 as an evolution of Swiggy Super, Swiggy One is India's first integrated hyperlocal membership program, offering subscribers free deliveries, exclusive discounts, and zero surge fees across food delivery, Instamart groceries, Dineout dining, and Genie courier services.
How did Swiggy expand beyond food into parcel courier services with Swiggy Genie?
Swiggy launched Swiggy Genie (originally Swiggy Go) to provide point-to-point hyperlocal courier pickup and delivery within cities, allowing users to send lunchboxes, forgotten keys, documents, and retail parcels across town using Swiggy's existing fleet.
How did Swiggy navigate the COVID-19 pandemic lockdowns in 2020?
During initial 2020 lockdowns, restaurant food orders collapsed by 70%. Swiggy responded by pivoting delivery personnel to deliver groceries, medicines, and daily essentials, accelerating the nationwide rollout of Instamart and rationalizing non-core business divisions.
What is Swiggy Access and how did it influence cloud kitchens in India?
Launched in 2017, Swiggy Access was a ready-to-use plug-and-play cloud kitchen infrastructure initiative that enabled popular restaurant brands to expand into delivery-dense neighborhoods without paying commercial real estate build-out and dining room overhead costs.
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