From now on, Food delivery platform Swiggy will be led by Ex-Myntra CEO Mukesh Bansal as he has now been designated as the strategic advisor on the company’s board. The significant announcement comes after raising $15 million by Swiggy in a Series D round of funding with a view to better compete with its rivals such as Foodpanda India, Zomato and Runnr. As of now, the company is imparting its service in 8-cities as well as claims to have near 10K restaurant partners on its board.
In a statement, Swiggy said, “Backed by two decades of experience in the startup ecosystem, including a decade in the Silicon Valley, Mukesh Bansal brings immense expertise in establishing strong leadership teams and scaling up an organisation through rapid growth.”
First laid its foundation in 2014, it was bootstrapped till early 2015. Since then, the firm has been making real efforts to find a successful wave. Based out of Bangalore, the food delivery company has raised $75.5 million from Bessemer Venture Partners, Norwest Venture Partners, SAIF Partners and Accel Partners in four rounds of funding. The average delivery time of 37 minutes in industry benchmark makes the firm as fastest food delivery service here in the country.
Mukesh Bansal, the former CEO and founder of Myntra, which was earlier acquired by one of the largest e-commerce stores, Flipkart in 2014 is presently running Curefit, a healthcare startup that will be launched sometime in 2017. According to Swiggy, his strong customer focus and business basics will prove to be beneficial for the company as they pace ahead as the country’s most efficient food ordering e-portal.
Sriharsha Majety, Co-founder of Swiggy, conveyed, “We now have Mukesh Bansal on board as we navigate the complexities of a rapidly growing business and build the foundation of a valuable company. He brings an intricate familiarity with the e-commerce business, metrics, goals and complexities. His guidance will help the leadership team achieve the goal of changing the way India eats and drive Swiggy’s next phase of growth. His expertise will add significant value to our growth, and strengthen our capabilities.”