Sriharsha Majety, Nandan Reddy, and Rahul Jaimini launched Swiggy in 2014 as a hyperlocal food delivery disruptor, transforming late-night cravings into a seamless digital experience. Now operating in over 580 cities with 10 million daily orders and FY25 revenue exceeding Rs 7,000 crore, Swiggy’s recent $115 million investment in its supply chain and plans to double dark stores by March 2025 underscore its push toward profitability by Q3 FY26, powering a $13.3 billion valuation in a quick-commerce market exploding at 50% annually amid urban India’s insatiable hunger for convenience.
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Entrepreneurial Sparks: From BITS Pilani Bonds to Bundl Beginnings
Sriharsha Majety, born in 1986 in Vijayawada, Andhra Pradesh, to a restaurateur father and doctor mother, was immersed in entrepreneurship from childhood. After earning a B.E. in Electrical and Electronics Engineering and an M.Sc. in Physics from BITS Pilani in 2008, he pursued an MBA from IIM Calcutta. A brief stint as an investment banker in London fueled his wanderlust—he backpacked across Southeast Asia and Europe—but also his resolve to build in India. “Travel taught me resilience; startups demand the same,” Majety shared in a 2024 Forbes India interview.
Majety connected with Nandan Reddy, a fellow BITS Pilani alumnus with an M.Sc. from 2010, during college. Reddy, who ran Zurna eatery in Hyderabad and handled social media at Source Pilani, shared Majety’s vision for tech-enabled services. In 2011, they launched Bundl Technologies, a logistics aggregator for e-commerce, spotting gaps in hyperlocal delivery. “We saw e-commerce booming but logistics lagging,” Reddy told YourStory in 2020.
Rahul Jaimini, an IIT Kharagpur Computer Science graduate from 2010, joined as the tech backbone. Previously a software engineer at Myntra, Jaimini built the platform’s core. “Rahul’s coding prowess turned our ideas into reality,” Majety noted in a 2017 Forbes India profile. The trio bootstrapped Bundl with personal savings, but by 2014, realizing food delivery’s untapped potential, they pivoted to Swiggy.
Pivoting to Plates: Swiggy’s Birth and Early Hustle
Swiggy debuted in August 2014 in Bengaluru’s eight-kilometer radius, partnering with 10 restaurants for 30-minute deliveries using a network of 20 delivery partners. The name evoked “swig” for quick sips, symbolizing speed. Early challenges included mapping uncharted streets and building trust with diners skeptical of online orders. “We delivered ourselves at night to test the system,” Jaimini recalled in a 2023 SeedToScale podcast.
The model—tech-driven logistics with GPS tracking and dynamic pricing—differentiated Swiggy from rivals like Foodpanda. By 2015, it expanded to 10 cities, raising $2 million from Accel and SAIF Partners. Majety’s family restaurant roots informed restaurant partnerships, while Reddy’s operational savvy scaled the fleet. Jaimini’s algorithms optimized routes, reducing wait times to 25 minutes.
Scaling Swiftly: Acquisitions, Funding, and Quick Commerce Leap
Swiggy’s growth accelerated with 75+ funding rounds totaling $3.6 billion from 200+ investors like Prosus, SoftBank, and Invesco, achieving unicorn status in 2018 at $3.3 billion. Key acquisitions include Scootsy (2017, $13 million for hyperlocal expertise), 48East (2019, cloud kitchen tech), and Dineout (2020, restaurant reservations). In 2025, Swiggy licensed brands like The Bowl Company and Soul Rasa to Kouzina for offline scaling, and acquired LYNK Logistics and Kint for supply chain muscle.
Instamart, launched in 2020, now rivals Blinkit with 500 dark stores planned by March 2025, offering 10-minute groceries. Q2 FY25 saw Instamart revenue soar 114% to Rs 513 crore, GOV up 76% to Rs 3,382 crore. Food delivery remains core, with 70% market share alongside Zomato.
Swiggy’s Growth Milestones
| Year | Key Achievement | Funding Raised ($M) |
|---|---|---|
| 2014 | Launch in Bengaluru | Bootstrapped |
| 2018 | Unicorn status; 100 cities | 500+ cumulative |
| 2021 | Instamart debut | 1,000+ cumulative |
| 2025 | 580+ cities; $115M supply chain investment | 3,600 cumulative |
Source: Company reports and Tracxn cited in Inc42 and Business Standard.
Financial Momentum: Toward IPO and Profitability
Swiggy’s November 2024 IPO raised Rs 11,300 crore at $10-12.5 billion valuation, with shares up 25% since listing. Invesco marked it to $13.3 billion in October 2024. FY25 revenue hit Rs 7,000+ crore, up 30% YoY, with Q2 FY25 losses at Rs 611 crore but food delivery profitable. Instamart eyes breakeven by FY26 end.
A $115 million infusion into Scootsy in February 2025 bolsters quick commerce, targeting 1,000 dark stores. “We’re investing in supply chains for sustainable scale,” Majety stated in a February 2025 Reuters interview.
Why Swiggy Sustains: From Cravings to Creator Economy
Swiggy matters by creating 500,000 gig jobs, empowering 200,000 restaurants, and fostering innovations like Bolt (10-minute food delivery). Amid competition, its 45% market share with Zomato drives 50% sector growth. The founders’ story—from Bundl’s pivot to IPO triumph—inspires, with Majety’s net worth at Rs 1,400 crore per Hurun 2024.
Looking ahead, Swiggy eyes Southeast Asia and B2B logistics, with Rare Life concierge pilot launching fully in 2025. As Reddy noted in a 2025 CNBC-TV18 chat, “Quick commerce is our next feast.” Their journey proves that in India’s bustling bazaars, timely delivery wins the plate.
In a nation of diverse palates, Swiggy savors the flavor of progress.
Last Updated on Friday, October 17, 2025 6:32 pm by Siddhant Jain
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