6/9/2015

OnlinefoodorderingstartupSwiggyraises$16.5MfromNorwest,others|VCCircle

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OnlinefoodorderingstartupSwiggyraises
$16.5MfromNorwest,others
BYBHAWNAGUPTA

Swiggywillusethefundsforgeographicalexpansion,brandbuilding.

UPCOMING EVENTS
TechcircleMobileForum2015
24thJun,2015,TheLalit,NewDelhi

VCCircleBengaluruInvestment
Summit2015
23rdJul,2015,VivantabyTaj,Bengaluru
VCCircleFinancialServices
InvestmentSummit2015
26thAug,2015,FourSeasonsHotel,
Mumbai

RECENT COMMENTS
08June2015 sunilbhatnagar on
Welldone!!

01June2015 VaniChawla on
NicearticleGeorge!

29May2015 AnilKhandelwal on
interestingread

BangalorebasedBundlTechnologiesPvtLtd,whichownsandoperatesonlinefoodorderingstartup
Swiggy.com,hasraisedSeriesBfundingof$16.5million(aroundRs102crore)inaroundledby
NorwestVenturePartners(NVP).
SAIFPartners,AccelPartners,aunnamedglobalinvestmententityandSwiggy'sexistinginvestors

27May2015 gg on
Niceassessment.ButIthinkunder
estimatingtheimpactofcrudeonCPI,given
thattransportcostisa...

participatedinthisround,asperapressstatement.
Swiggywillusethefundsforexpandingitsgeographicalfootprintandbrandbuilding.
Thestartupwasformedin2014bySriharshaMajety,NandanReddyandRahulJaimini.Majetyand
ReddyareBITSPilanialumnuswhileJaiminiisanalumnusofIITKharagpur.InApril,Swiggy
raisedseedcapitalof$2millionfromSAIFPartnersandAccelPartners.
"Wehaveseena10xgrowthinordernumbersoverthepastfewmonthsandthisinvestmentwill
helpustoexpandexponentiallyasweintendtoestablishourselvesinseveralnewcitiesbythe
endoftheyear.Combiningtechnologywithourowndeliveryfleetallowsustoprovideusersa
superiorexperience,whichhasbeenourkeystrength,andwewillcontinuetobuildonit,"said
Majety.
SwiggyoffersonlineorderingservicefromrestaurantsintheKoramangalaneighbourhoodof

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6/9/2015

OnlinefoodorderingstartupSwiggyraises$16.5MfromNorwest,others|VCCircle

Bangaloreandmanagesdeliveryusingafleetofpersonnelequippedwithsmartphones.

Tweets

ItrecentlystartedoperationsinGurgaonandHyderabadwhereithaspartneredwithover100
restaurants.SwiggyhasalsotiedupwithbangalorebasedcloudkitchensEatongoandBrekkie
andisintheprocessofsigningupwithfewmore.Cloudkitchensareonlinebreakfastandbrunch
unitsthatdonothaveaphysicalrestaurant.Theyofferfoodthoughtheirwebsites/appsandalso
delivertotheircustomers.

VCCircle.com
@vccircle

1h

Online food ordering startup Swiggy raises

$16.5M from Norwest, others bit.ly/1MkVimK
@swiggy_in @NorwestVP
pic.twitter.com/6Or2BY223h
Retweeted by Bhawna Gupta

ThetotalfooddeliverymarketinIndiaisestimatedtobe$6billionandcontinuestoexpandata
rapidclip."Swiggysdeliveryinfrastructuresolvesamajorneedinthemarketbyenabling
restaurantstoconcentrateontheircorebusinessandscaleuptheirdeliveryrevenues.
Simultaneously,theproductseaseofuseandtheconvenienceitprovidestoconsumers,has
resultedinstrongrepeatratesandanincreasedcustomerbase,"saidSumerJuneja,principalat
NVPIndia.
Theonlinefoodorderinganddeliveryspacehasturnedouttobeanewhotspaceforinvestors,as
perdatafromVCCEdge,thedataresearchplatformofVCCircle.Swiggy,competeswith
Compose new Tweet

Foodpanda,TinyOwl,delyver.comandothersforasliceofwhatisbecomingafairlycrowded
space.OtherslikeZomatohavealsoenteredthefoodorderingbusinessbutisnotinvolvedwith

VCCIRCLE

deliveryitselfandjustprovidesanorderingplatform.

Like

MumbaibasedTinyOwl,whichoffersalocationbasedmobileappfororderingfood,hadraised$15
7,433peoplelikeVCCIRCLE.

million(Rs93crore)inSeriesBroundoffundingledbyMatrixPartnersinFebruarythisyear.
BangalorebasedmobileonlyfoodorderingstartupTapCiboOnlineSolutionsPvtLtd,which
operatedunderthebrandTapCibo,rebrandeditselfasDazoandraisedanundisclosedamountin
seedfundingfromabunchofentrepreneursincludingfoundersofCommonFloorandTaxiForSure
About VCCEdge Techcircle Bizcircle Events Training MobileApps

Careers

lastmonth.

TheleaderinthisspacetodayisFoodpanda.com,aRocketInternetbackedglobal,multilocation

EnterKeyword...
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chinetwork

onlinefoodorderingmarketplace.Foodpandahadraised$100millionfundingledbyglobal
financialservicesgiantGoldmanSachsearlythismonth.Ithadalsoacquiredtwokeycompetitors
inthecountryJustEastIndiaandTastyKhana.
Beforetheseventuressproutedup,restaurantsdependedontheirowndeliverypersonnelfor
pushingsalesovertelephoneorders.Indeed,vastchunkofthemarketisstilldominatedbysucha
system.
NVPhasbeenanactiveinvestorinIndiawithinvestmentsacrosscompaniesandsectors.Thisis
thesecondknowninvestmentbyNVPinIndiathisyear,accordingtoVCCEdgedata.
InApril,itparticipatedinSulekha.com'sSeriesCroundoffundingwhichwasledbySingapores
sovereignwealthfundGIC.IthasalsoinvestedincompaniessuchasQuboleInc,Acidaes
SolutionsPvtLtdthatrunsCRMnext,CholamandalamFinance,INGVysyaBank,IndusIndBank,
AsianGenco,Fashionandyou,KomliMediaandYatra.com.
Tags:BundlTechnologiesPvt.Ltd.,Swiggy.com,NorwestVenturePartners

BUNDLTECHNOLOGIESPVT.LTD.
(Swiggy)

BundlTechnologiesPvt.Ltd.ownsandoperatesshippingplatformforonlinesellers.Italsooffersfoodorderingand
deliveryservices.Thecompanywasincorporatedin2013andisbasedinBengaluru,...
HEADOFFICE

: Bengaluru

WEBSITE

YEARFOUNDED

: 2013

MANAGEMENT :

: www.swiggy.in

IN NEWS
Online food ordering startup Swiggy raises $2M from SAIF & Accel Partners

NORWESTVENTUREPARTNERS

http://www.vccircle.com/news/technology/2015/06/09/onlinefoodorderingstartupswiggyraises165mnorwestothers

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6/9/2015

OnlinefoodorderingstartupSwiggyraises$16.5MfromNorwest,others|VCCircle

NorwestVenturePartnersisaventurecapitalandprivateequityfirmwithapproximately$5billionassetsunder
management.Itprovidesseed,early,expansion,growthandlatestagecapitaltolisted...
HEADOFFICE

: PaloAlto

WEBSITE

YEARFOUNDED

: 1961

MANAGEMENT :

: www.nvp.com/

IN NEWS
Norwest Venture Partners promotes Sumer Juneja as principal
Analytics co Manthan raises more money from existing investors Fidelity & Norwest
Pepperfry raises $16M from Bertelsmann, NVP
Norwest Venture Partners India play: An exit a year; tech portfolio to go global
Norwest Venture Partners raises $1.2B for its latest fund

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