In a key move during Swiggy’s pre-IPO funding round, venture capitalists and BizDateUp co-founders Jeet Chandan and Meet Jain have acquired a stake in the food and grocery delivery leader. The investment was part of an off-market secondary deal that drew attention from notable figures, including cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, and filmmaker Karan Johar.
Swiggy, a frontrunner in India’s booming food delivery industry, has garnered significant interest with this pre-IPO round, reinforcing investor confidence in its growth trajectory and future outlook. This fresh investment is expected to drive Swiggy’s continued innovation as it solidifies its position in India’s fast-growing food delivery space.
Commenting on the investment, Jeet Chandan, co-founder of BizDateUp, said, “The Indian food delivery market has seen tremendous growth in recent years.” He continued, “As someone who has been an entrepreneur since the age of 13, I’ve always been drawn to building disruptive businesses that make a real difference. Swiggy’s innovative approach and leadership in the industry align perfectly with my investment vision.”
BizDateUp, founded by Jeet Chandan and co-founded by Meet Jain, has rapidly emerged as a significant player in the startup ecosystem, offering a wide array of support services to help promising startups succeed.
During the 2023-24 fiscal year, BizDateUp experienced substantial growth, funding over 25 startups and raising a $10 million fund, while working closely with more than 1,000 active angel investors. The company also reported an impressive average return of 3.5X, strengthening its reputation as a trusted partner for high-growth ventures.
Reflecting on the future of food delivery, Meet Jain, co-founder of BizDateUp, stated, “With user-friendly apps, tech-driven delivery networks, and evolving consumer expectations, food delivery has grown into a major category. Swiggy is well-positioned to continue leading this space with its innovative solutions and customer-centric focus.”