Food ordering and delivery platform Swiggy has appointed Myntra’s co-founder and former CEO Mukesh Bansal to its advisory board. The significant appointment comes after Swiggy raised $15 million in its fourth strategic round of funding (Series D). Backed by Bessemer Venture Partners, with existing investors also participating, the freshly raised funds are aimed at Swiggy’s next growth phase in which it intends to offer an improved customer experience along with technology upgrades, a wider spread of restaurants to choose from, and better delivery efficiency.
“Mukesh Bansal brings immense expertise in establishing strong leadership teams and scaling up an organisation through rapid growth. His strong customer focus and business fundamentals will be crucial pillars for Swiggy as they continue to build India’s most efficient food ordering platform,” Swiggy said in a statement.
Bansal, who sold Myntra to Flipkart in one of the largest e-commerce M&A deals in 2014, held a key leadership role in Flipkart. He, however, quit Flipkart early this year to start his own venture Curefit, a healthcare startup that is set to launch in early 2017. ALSO READ: Swiggy raises $15 million in fourth round of funding
Bansal, as an strategic advisor in Swiggy, will add significant value to its growth and strengthen capabilities, Swiggy co-founder Sriharsha Majety said.
Founded in 2014, Swiggy is one of the country’s largest food-tech company. It has raised $75.5 million from Bessemer Venture Partners, Norwest Venture Partners, SAIF Partners and Accel Partners in four rounds of funding. The Bengaluru-based company picks up food from neighbourhood restaurants and delivers them to customers. It has its own delivery fleet which enables it to offer features like faster deliveries, no minimum order and live tracking of their delivery.
Swiggy delivers in Bengaluru, Hyderabad, Delhi NCR, Mumbai, Pune, Kolkata and Chennai with over 9,000 restaurants listed on its platform. It competes with companies like Zomato and FoodPanda.