Footnotes / references Financials as of 31 March 2025[update].[4]
Swiggy Limited is an Indianonline food ordering anddelivery company, headquartered inBengaluru. As of 2025[update], it operates food delivery services in more than 700 Indian cities,[5] andquick-commerce services under the name Instamart in 100 cities.[6] The company was incorporated in 2013.
Swiggy competes primarily withZomato in food delivery.[7] In quick-commerce, Instamart ranks behind competitorsBlinkit andZepto in terms of market share.[8][9]
In 2013, Sriharsha Majety and Nandan Reddy designed ane-commerce website called Bundl to facilitate courier service and shipping within India.[10] Bundl was halted in 2014 and rebranded to enter the food delivery market.[11] Majety and Reddy approached Rahul Jaimini, formerly withMyntra, and launched Swiggy in August 2014.[12][10][11]
By 2015, Swiggy expanded its food delivery operations from just Bengaluru to eightTier 1 cities across India.[13][14] At the time, the food delivery sector was in turmoil as several notable startups, such asFoodpanda (later acquired byOla Cabs), TinyOwl (later acquired byZomato) and Ola Cafe (later closed) were struggling.[10][11]
In January 2017, Swiggy started itscloud kitchen chain called "The Bowl Company".[15] In November 2017, Swiggy started akitchen incubator business called Swiggy Access, opening a network of ready-to-occupy kitchens for its restaurant partners.[16] By 2019, over 1,000 Swiggy Access kitchens were operational, according to aTechCrunch report.[17]
In mid-2018, Swiggy was operational in 16 Indian cities,[18] which increased to 500 cities in 2019, matching the scale of rivalZomato.[19]
In early 2019, Swiggy expanded into general product deliveries under the name Swiggy Stores, sourcing items from local stores.[20][21][22] In September 2019, Swiggy launched Swiggy Go, apackage delivery service.[23][24] In April 2020, it rebranded Swiggy Go as Swiggy Genie.[25] During theCOVID-19 pandemic, it began doorstep delivery of alcohol in the states ofJharkhand,West Bengal andOdisha.[26][27]
In May 2020, Swiggy laid off 1,100 employees during the COVID-19 pandemic.[28] The pandemic also resulted in the shut down of more than three-fourths of its cloud kitchens.[29]
In August 2020, Swiggy launched its instant grocery delivery service called Instamart using a network ofdark stores.[30][31] In early 2021, the company closed Swiggy Stores and expanded its operations under Instamart.[32]
In 2023, it sold Swiggy Access kitchens to Kitchens@ in ashare-swap deal.[33]
In January 2024, Swiggy laid off 400 employees, or 6% of its workforce, ahead of IPO.[34][35]
In December 2024, Swiggy launched an events and ticketing service called Scenes.[39] In May 2025, it shut down its same-day package delivery service Genie.[40]
In 2015, Swiggy received a $2 million investment fromAccel and SAIF Partners, along with additional investment fromNorwest Venture Partners.[11] The following year, it raised $15 million from both previous and new investors, includingBessemer Venture Partners and Harmony Partners.[11]
In 2017,Naspers led an $80 million funding round into Swiggy.[11] In February 2018, Swiggy raised $100 million from Naspers andMeituan-Dianping.[41] By September 2018, Swiggy was valued at around $3.3 billion, and in April 2020, Swiggy was valued at around $3.6 billion.[42]
In July 2021, Swiggy raised $1.25 billion fromSoftBank,Prosus, and other investors, at a valuation of $5.5 billion.[43]
In January 2022, Swiggy's valuation rose to $10.7 billion after a $700-million fundraise led by US asset managerInvesco.[44]
In 2018, Swiggy acquired Mumbai-based Scootsy Logistics, a high-end food and essentials delivery service,[45] and ultimately merged the company's operations into itself in 2020.[46] In 2022, Scootsy launchedprivate label products retailed on Swiggy Instamart.[47]
In September 2018, it acquired Mumbai-based milk delivery startup SuprDaily.[48] In 2023, SuprDaily wasrebranded as InsanelyGood, which wasrepositioned as a grocery delivery service,[49] before being merged into Instamart a year later.[50]
In 2022, Swiggy acquired the dining and table reservation platform Dineout fromTimes Internet in an all-stock deal valued at $120 million.[51]
In 2023, Swiggy acquired retail distribution company LYNK Logistics from the Ramco Group.[52]
In 2020, Swiggy launched adigital wallet, Swiggy Money, in partnership withICICI Bank.[58] In January 2022, Swiggy and drone company ANRA Technologies began trialing drone deliveries.[59] In 2023, Swiggy partnered withGogoro to provide smart scooters to delivery partners.[60]
In 2024, Swiggy partnered withIRCTC to deliver food in railway stations.[61] Swiggy Instamart partnered with Park+ for doorstep delivery ofFASTags.[62] Swiggy became the official sponsor of Season 4 ofShark Tank India.[63]
In October 2024, Swiggy Instamart partnered withPharmEasy for quick-commerce delivery of medicines.[64]
₹16,333 crore (US$1.9 billion) (2025)
₹−1,910 crore (US$−230 million) (2025)
