Sriharsha Majety, co-founder and Group CEO of Swiggy, who built the company from food delivery into a broader on-demand convenience platform.
Sriharsha Majety built Swiggy from a food delivery startup into India’s major convenience platform. Explore his journey, funding, growth and strategy.
Written by TFN Research Desk | covering startups, technology, venture capital, and business strategy.
Table of Contents
- Who is Sriharsha Majety?
- Early Life and Education
- Career Before Swiggy
- How Swiggy Started
- Funding History
- Revenue Growth and Recent Developments
- Public Recognition
- Swiggy vs Competitors
- Investor Perspective
- Founder Timeline
- Key Takeaways
- FAQs
- Sources
Who is Sriharsha Majety?
Sriharsha Majety is the co-founder, Managing Director and Group CEO of Swiggy, the Indian on-demand convenience platform he launched with Nandan Reddy and Rahul Jaimini in 2014. Under his leadership, Swiggy expanded from food delivery into quick commerce, dining and other convenience services. The company became publicly listed in November 2024, marking a major transition from startup to listed technology company.
Early Life and Education
Majety studied Electrical and Electronics Engineering at BITS Pilani and later completed a postgraduate management degree from IIM Calcutta. He began his professional career in investment banking at Nomura International in the United Kingdom. His finance background gave him exposure to financial markets before he moved toward entrepreneurship.
Career Before Swiggy
Before Swiggy, Majety co-founded Bundl with his BITS Pilani classmate Nandan Reddy. Bundl was a logistics platform for online retailers, but the business was eventually shut down. That experience gave Majety an early lesson in logistics, execution and the difficulty of building a marketplace.
He and Reddy later joined forces with Rahul Jaimini, an IIT Kharagpur graduate, to build Swiggy. The founders launched the food-delivery business in Bengaluru in 2014.
How Swiggy Started
Swiggy entered a market where restaurant delivery was already becoming popular, but the experience was fragmented. The founders focused heavily on logistics and delivery reliability rather than simply creating another restaurant-discovery platform.
That approach became central to Swiggy’s identity. The company built its own delivery network and technology infrastructure, allowing it to control more of the customer experience.
The strategy eventually expanded beyond food. Swiggy launched Instamart in 2020, Swiggy One in 2021 and acquired Dineout in 2022. The company has since positioned itself as a broader convenience platform rather than a food-delivery company alone.
Funding History
| Round | Year | Amount | Lead Investor(s) |
| Series A | 2015 | $2 million | Accel, SAIF Partners |
| Series B | 2015 | $16.5 million | Accel, SAIF Partners, Norwest |
| Series C | 2016 | $35 million | Accel, SAIF Partners, Norwest |
| Series E | 2017 | $80 million | Prosus, Accel, Bessemer |
| Series H | 2018 | $1 billion | Prosus, Tencent, DST Global |
| Series J | 2021 | $1.25 billion | SoftBank, Prosus and others |
| Series K | 2022 | $700 million | Invesco and other investors |
Swiggy raised more than $3.5 billion across its funding history before and around its public-market transition, according to funding databases.
Revenue Growth and Recent Developments
| Fiscal Year | Revenue | Net Loss |
| FY25 | Not used | Not used |
| FY26 | ₹6,383 crore | Losses narrowed by ₹281 crore year-on-year |
Swiggy reported ₹6,383 crore in revenue for FY26, representing 45% growth. Food delivery generated ₹1,000 crore in annual adjusted EBITDA, while Instamart continued to operate at an adjusted EBITDA loss of ₹858 crore. The contrast highlights the company’s central challenge: its mature food business is producing stronger economics while quick commerce still requires heavy investment.
Swiggy also became a listed company in November 2024, with its public issue aggregating approximately ₹11,327 crore.
Public Recognition
Majety was named Economic Times Entrepreneur of the Year in 2019 for his work scaling and diversifying Swiggy. He has also been recognised by Forbes and BITS Pilani for his entrepreneurial achievements.
Swiggy vs Competitors
| Company | Founded | Positioning |
| Swiggy | 2014 | Food delivery, quick commerce and convenience |
| Zomato | 2008 | Food delivery, dining and quick commerce |
| Zepto | 2021 | Quick commerce |
| Blinkit | 2013 | Quick commerce |
Swiggy’s key differentiation is the breadth of its consumer ecosystem. Food delivery remains its foundation, while Instamart and other services give it additional opportunities to increase frequency and customer engagement.
Investor Perspective
Majety’s strongest advantage is his understanding of logistics and marketplace businesses. The failure of Bundl preceded Swiggy, giving him direct experience with what can go wrong before the company that ultimately worked.
Swiggy’s scale and listed status provide substantial financial flexibility, but the business faces intense competition. Food delivery is more mature, while quick commerce demands significant capital and operational density. The company’s ability to turn Instamart’s growth into sustainable profitability will be one of its biggest tests.
Founder Timeline
- 2008: Completes engineering at BITS Pilani.
- 2010: Completes management studies at IIM Calcutta.
- Early career: Works at Nomura International.
- 2013: Co-founds Bundl with Nandan Reddy.
- 2014: Co-founds Swiggy with Nandan Reddy and Rahul Jaimini.
- 2020: Launches Swiggy Instamart.
- 2021: Launches Swiggy One and raises major growth capital.
- 2022: Acquires and integrates Dineout.
- 2024: Swiggy goes public.
- 2026: Reports ₹6,383 crore in FY26 revenue and narrowing losses.
Key Takeaways
- Majety moved from investment banking to entrepreneurship through an earlier logistics venture.
- Swiggy was built around controlling delivery infrastructure and customer experience.
- The company expanded from food delivery into quick commerce and other convenience categories.
- Swiggy became publicly listed in November 2024.
- Food delivery has reached stronger profitability, while Instamart remains the major investment challenge.
FAQs
Who founded Swiggy?
Sriharsha Majety, Nandan Reddy and Rahul Jaimini founded Swiggy in 2014.
What is Sriharsha Majety’s current role?
He is the Managing Director and Group CEO of Swiggy.
Where did Sriharsha Majety study?
He studied engineering at BITS Pilani and management at IIM Calcutta.
What did he do before Swiggy?
He worked at Nomura International and co-founded Bundl, a logistics startup.
How much funding has Swiggy raised?
Swiggy has raised more than $3.5 billion across its funding history.
When did Swiggy go public?
Swiggy listed on Indian stock exchanges on November 13, 2024.
Is Swiggy profitable?
Its food-delivery business has reached adjusted EBITDA profitability, but the wider company continues to invest heavily in quick commerce.
What is Swiggy Instamart?
Instamart is Swiggy’s quick-commerce business, delivering groceries and other products through a network of fulfilment centres.
What is Sriharsha Majety’s net worth?
His current personal net worth is not reliably publicly disclosed.
What makes Swiggy different?
Its combination of food delivery, quick commerce, dining and other convenience services gives it a broader consumer ecosystem than a single-category delivery platform.
Sources
Swiggy, Sriharsha Majety Profile
NSE India, Swiggy Listing Ceremony
IIM Calcutta, Sriharsha Majety
© The Founder Nation | All rights reserved | Written by TFN Research Desk
