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Rahul Chaudhary quits Matrix Partners; to start his new venture

EntrackrEntrackr · 1y ago
Rahul Chaudhary quits Matrix Partners; to start his new venture
Medial

Rahul Chaudhary, who joined venture capital fund Matrix Partners India in February last year, has quit the firm to start his new venture, according to sources aware of the development. Chaudhary left the firm in January this year. As per sources, Chaudhary is planning to launch his new venture soon. Before joining Matrix, Chaudhary spent nearly seven years at Treebo as the co-founder and currently serves as board member of the hotel aggregating platform. Sidharth Gupta and Kadam Jeet Jain are the other two co-founders of the Bengaluru-based company. It’s worth noting that Matrix is an early investor in Treebo. During Chaudhary’s tenure at Matrix Partners India, the had launched a fund worth $450 million and later extended the target size for the fund to $525 million. Since then, the fund has backed more than dozen startups including Neysa, InPrime, Krutrim SI Designs, Aampe, Atomic Work, Wootz.work, Stable Money, and Scapia, among others. Further details about Chaudhary’s new venture couldn’t be ascertained. Queries sent to him did not elicit any response until publication of the story. Chaudhary will join several VCs who have quit their post in 2024 to start a new venture. In March, Nexus Venture Partners’s managing director Sameer Brij Verma left the firm to launch a multi stage fund while Peak XV’s Piyush Gupta stepped down in April to start his own VC firm. In the same month, Lightspeed’s partners Vaibhav Agrawal and Abhishek Nag put in their papers. While Agrawal is launching his own venture firm, Nag joined Mumbai-based 360 One to lead early-stage investments. Most recently, Anand Chandrasekaran left US-based VC firm General Catalysts to focus on his AI startup Crescendo.

Shalabh Shrivastava quits Swiggy; Saurav Goyal takes over Driver Org

EntrackrEntrackr · 1m ago
Shalabh Shrivastava quits Swiggy; Saurav Goyal takes over Driver Org
Medial

Shalabh Shrivastava quits Swiggy; Saurav Goyal takes over Driver Org On Tuesday, Swiggy announced that Saurav Goyal will now lead its Driver and Delivery operations. He will fill Shrivastava's position, but the firm didn’t mention his (Shrivastava) resignation. Shalabh Shrivastava, the senior vice president of Driver Org at Swiggy, has quit the company, according to sources aware of the development. Before joining Swiggy in November last year, Shrivastava worked at Flipkart for over 10 years and was promoted to VP and National Head of Large and Furniture Supply Chain, a role he held for nearly three years. On Tuesday, Swiggy announced that Saurav Goyal will now lead its Driver and Delivery operations. He will fill Shrivastava's position, but the firm didn’t mention his (Shrivastava) resignation. Queries sent to Swiggy did not receive a response. Goyal, who joined Swiggy in 2020, will continue in the role of senior vice president of Business Finance until a replacement is named. He has over 18 years of experience across firms, including Ola, and has supported Swiggy’s IPO efforts. Driver and Delivery operations is a critical function for foodtech platforms like Swiggy, as it manages relationships with delivery partners who are the backbone of their logistics network. The Bengaluru-based company partners with over 2.5 lakh restaurants across 700 cities and works with more than 5 lakh delivery workers. With growing competition in food and quick-commerce, efficient delivery coordination is essential to ensuring speed and service quality. Amid rising competition from Blinkit and Zepto, Swiggy continues to operate in the red. While its operating revenue grew 45% year-on-year to Rs 4,410 crore in Q4 FY25, losses jumped 95% to Rs 1,081 crore.

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