28 September 2017, India:
Online food delivery startup Swiggy has appointed Rahul Bothra as its new, and first ever Chief Financial Officer (CFO), as per the report by ET. Bothra has previously worked with elite companies like Olam, Britannia, Colgate and Wipro.
Swiggy is a food ordering and delivery company based out of Bangalore, India. It was inspired by the thought of providing a complete food ordering and delivery solution from the best neighborhood restaurants to the urban foodie. A single window for ordering from a wide range of restaurants, It has an exclusive fleet of delivery personnel to pick up orders from restaurants and deliver it to customers. Swiggy has over 12,000 restaurants on its delivery platform and delivers meals within 37 minutes of an order as the startup claims.
Swiggy also is looking to hire a new chief operating officer (COO) for its main marketplace business and is also in the process of building out a new “cloud kitchen” vertical for which it is searching a suitable candidate as its new chief executive officer (CEO), as per the report by The Mint.
The company had recently raised $80 million in Series E funding from Naspers. The round also saw the participation from existing investors including Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners.
Swiggy’s arch-rival Zomato recently acquired hyperlocal delivery startup Runnr to strengthen its delivery business. Meanwhile, Nomura Financial Advisory and Securities (India) Pvt. Ltd has valued Zomato at $1.4 billion. Zomato’s valuation uptick by Nomura comes at a time when the company is in advanced talks to raise up to $200 million from Chinese e-commerce giant Alibaba and its payment affiliate Ant Financial.