🚀 Medial Secures Investment on Shark Tank India - Fueling the Future of Professional Social Networking. 🔥
✕
Login
Home
News
Messages
Startup Showcase
Trackers
Premium
Premium Content
Jobs
Notifications
Settings
Try our Valuation Calculator →
Log In
News on Medial
Swiggy taps fresh talent for Instamart as it gears up for public listing
YourStory
·
1y ago
Medial
IPO-bound food delivery giant Swiggy has made key executive appointments ahead of its public listing. Himavant Srikrishna Kurnala, previously CPO for JioMart, has been appointed as SVP and Product Head for Instamart, Swiggy's quick commerce offering. Mayank Rajvaidya, formerly with Amazon, has been appointed as VP of Fruits and Vegetables, and Manu Sasidharan, with experience in Flipkart and Cleartrip, has been appointed as Associate VP of the FMCG category. Swiggy is also focusing on profitability, with recent increases in platform fees in certain markets.
View Source
1
Related News
IPO-Bound Swiggy Strengthens Instamart’s Leadership Team With Four Key VP Heads
Inc42
·
1y ago
Medial
Swiggy, a Bengaluru-based startup, has announced new appointments to improve its on-demand services in India. The company is also preparing for its public listing. Additionally, reports suggest that Amazon India has approached Swiggy for a possible deal related to Instamart.
View Source
Now, Another VP Down At Swiggy Instamart
Inc42
·
1y ago
Medial
Karan Arora, Vice President and Head of Supply Chain Management at Swiggy Instamart, has left the company. Arora, who was with the food delivery major for three and a half years, will be joining Karthik Gurumurthy, former head of Swiggy Instamart, as a co-founder of his new venture, Convenio. Swiggy is yet to announce Arora's replacement. This departure adds to a series of high-profile exits from the company, which is preparing for a $1 billion IPO in FY24. Swiggy has been cutting costs in anticipation of the public listing.
View Source
Swiggy Instamart to appoint Flipkart’s Ankit Jain as SVP
Entrackr
·
2m ago
Medial
Swiggy Instamart is reportedly appointing Ankit Jain, a Senior Vice President at Flipkart, as its new SVP. He will replace Sairam Krishnamurthy, who has been the SVP and COO of Instamart since August 2024. According to a Moneycontrol report, this move is part of a broader series of exits at Flipkart, which is working to reduce its monthly cash burn from $40 million to $20 million ahead of a potential public listing. The report added that Jain will work closely with Amitesh Jha, Swiggy Instamart’s CEO, who also joined from Flipkart in August 2024. Swiggy has recently hired several other senior executives from Flipkart, including Shalabh Shrivastava as SVP of Driver Org and Hari Kumar G. as SVP and Chief Business Officer for Swiggy Instamart. Swiggy Instamart added 316 dark stores between January and March 2025, increasing its network to 1,021 stores as it intensifies competition with Blinkit, Zepto, and Flipkart Minutes in the quick commerce segment. Instamart saw remarkable growth in Q4 FY25, with revenue surging by 115% to Rs 689 crore from Rs 320 crore in Q4 FY24. Overall, Swiggy reported Rs 4,410 crore in revenue and a Rs 1,081 crore loss in the fourth quarter of the last fiscal year (FY25).
View Source
Swiggy gears up for IPO: Food aggregator converts to public limited company
Livemint
·
1y ago
Medial
Swiggy, the food delivery and quick-commerce platform, has converted to a public limited company as it prepares for an IPO later this year. The company's holding company has been renamed 'Swiggy Limited' in anticipation of going public. Swiggy is expected to file its draft red herring prospectus in the coming months and aims to raise around $1 billion through the IPO by the end of 2024. Swiggy's decision to go public reflects the trend of other internet companies in India seeking to list on public exchanges. The company is focused on improving its financial performance and reducing cash burn ahead of the IPO.
View Source
Swiggy Merges InsanelyGood With Instamart
Inc42
·
1y ago
Medial
Swiggy, an IPO-bound food delivery company in India, has merged its premium grocery vertical, InsanelyGood, with its quick commerce unit, Instamart. InsanelyGood's operations will be paused for some time, and it will be available through Instamart. Swiggy has been expanding its services beyond food delivery, with offerings such as Swiggy Genie and Minis store. This move comes as quick commerce companies like Instamart and Zepto are diversifying into new product categories, challenging traditional e-commerce firms. Swiggy is expected to file its IPO papers soon, following a recent valuation mark-up by asset management firm Baron Capital Group.
View Source
Swiggy aims to turn Instamart profitable by March
Entrackr
·
1y ago
Medial
Swiggy's plan for a public listing appears promising due to profitability in its food delivery business. The company has now set a profit target for its grocery delivery unit, Swiggy Instamart, aiming to achieve profitability by March-April 2024. Improved economics and rationalized costs have boosted confidence. Swiggy's losses increased in FY23, primarily due to investments in its grocery business, but its earnings also grew. The company is yet to determine its public market valuation but is unlikely to settle below an $11 billion valuation. An IPO is a potential option for Swiggy in FY25.
View Source
Swiggy likely to take confidential filing route for IPO
The Arc Web
·
1y ago
Medial
Indian food delivery giant, Swiggy, is reportedly considering a confidential or pre-filing route to submit its IPO documents to the Securities and Exchange Board of India (SEBI). This option, introduced by SEBI in 2022, allows companies to protect their proprietary business information until they receive approval for a public offering. Swiggy's move follows recent preparations for a public listing, such as appointing a new independent director and converting from a private limited company to a public limited one. However, the company is still experiencing losses in its instant grocery business, Instamart, and trails behind competitor Zomato in food and grocery delivery. Swiggy is seeking a valuation between $12-15 billion, while Zomato's valuation recently reached $20 billion.
View Source
Swiggy Instamart taps Flipkart veteran Kanika Tiwari as Head of Monetization
YourStory
·
8m ago
Medial
Swiggy Instamart has hired Kanika Tiwari, formerly of Flipkart, as its new Head of Monetization. The move is part of Swiggy's strategy to strengthen its growth initiatives. Tiwari brings over eight years of experience in leadership roles at Flipkart, primarily focusing on growth and strategy. Swiggy has also appointed Supriya Shankar as Vice President of Events and Experience. These additions to the leadership team aim to drive growth and improve service quality across Swiggy's key segments. Swiggy recently made a successful debut on Indian stock exchanges, with its shares opening at a premium.
View Source
Quick Commerce Platforms To Deliver Gold,Silver Coins In 10 Mins
Inc42
·
1y ago
Medial
Quick commerce platforms like Swiggy Instamart, Tata's bigbasket, and Zepto have partnered with gold-focused platforms and companies to deliver gold and silver coins within 10 minutes on Akshaya Tritiya, a festival significant for buying gold and silver. Swiggy Instamart has partnered with Malabar Gold and Diamonds, while Zepto has tied up with Jar's in-house jewellery brand, Nek. The platforms also plan to deliver other puja essentials like deity photos and fresh flowers in the same timeframe. These partnerships aim to boost sales and tap into the growing trend of buying gold during the festival.
View Source
Swiggy reports Rs 11,247 Cr revenue in FY24; cuts losses by 44%
Entrackr
·
11m ago
Medial
Swiggy has demonstrated strong financials ahead of its initial public offering (IPO). The Bengaluru-based firm reported a 36% jump in its operating revenue to Rs 11,247 crore in FY24, according to documents shared with its investors. Swiggy has also managed to reduce its losses by 44% to Rs 2,350 crore in the last fiscal year. The company’s revenue stood at Rs 5,476 crore in the first three quarters of FY24 with Rs 1,600 crore loss. It’s worth noting that these numbers aren’t audited. The Arc reported the development first. Swiggy said that its food delivery business grew 17% to Rs 6,100 crore while its quick commerce vertical Instamart registered Rs 1,100 crore gross revenue in the last fiscal year (FY24). When compared, Zomato’s overall revenue in FY24 jumped 71% to Rs 12,114 crore. This includes Rs 6,161 crore from the food business and Rs 2301 crore via the grocery business (Blinkit). Swiggy was neck and neck with Zomato in terms of food delivery whereas it was way behind in terms of grocery business. Unlike Swiggy, Zomato reported Rs 351 crore net profit in FY24 and the profitability also continued in the first quarter of FY25. For context, Blinkit had the highest market share among quick commerce players as of July, according to consulting firm USB. Swiggy Instamart was in second position followed by Zepto and BigBasket. Swiggy raised its last equity round in January 2022 when it also entered the decacorn club. Recently, it received strategic investments from Amitabh Bachchan Family’s office and Hindustan Composites. Swiggy reportedly filed IPO papers via a confidential route in May to raise up to Rs 3,750 crore ($450 million) via a fresh issue of equity shares and an offer for sale of up to an aggregate amount of Rs 6,664 crore ($800 million). The firm will soon file draft IPO papers with SEBI.
View Source
Trackers
Active Indian VC’s
OG Capital
Email
With a hands-on approach, OG Capital aims to invest in over 20 promising...
Accel Partners
Email
Early and growth-stage investments in disruptive technology companies with...
Blume
Email
Early-stage venture capital firm investing in technology startups in India. Focus on...
Access All Trackers
Startup Showcase Winners
June 2025
Buddy
Helping your parents when you are miles away
BiteStop
The Pit Stop Your Cravings Deserve
Bloomer
The next generation E-commerce platform
Enter Ongoing Startup Showcase
Top Users
Trending News on Medial
Download the medial app to read full posts, comements and news.
Go to Medial App
Not Now
Know everything that’s happening in the startup ecosystem, first.
Enable Notifications?
No, thanks
Count me in