In a strategic move during Swiggy’s much-anticipated pre-IPO round, Jeet Chandan and Meet Jain, venture capitalists and co-founders of BizDateUp, have acquired a stake in the food and grocery delivery giant. The investment was made via an off-market secondary deal, which has attracted a host of prominent investors, including cricketers Rahul Dravid and Zaheer Khan, tennis player Rohan Bopanna, and filmmaker Karan Johar.
Swiggy, a leader in India’s food delivery sector, has garnered significant attention with this pre-IPO round, signaling strong market confidence in its growth trajectory and future prospects. The fresh investment is expected to further fuel Swiggy’s innovative expansion as it continues to dominate the fast-growing food delivery space in India.
Jeet Chandan, co-founder of BizDateUp, commented on the investment: “The Indian food services market, particularly in food delivery, has experienced remarkable growth in recent years.” He added, “As an entrepreneur since the age of 13, I have always been passionate about creating disruptive businesses that significantly impact consumers’ lives. Swiggy’s innovative approach and leadership in the food delivery sector align perfectly with my investment philosophy.”
Founded by Jeet Chandan and co-founded by Meet Jain, BizDateUp has quickly established itself as a key enabler within the startup ecosystem. The platform provides a broad spectrum of support services to help innovative startups flourish.
In the fiscal year 2023-24, BizDateUp reported considerable growth, having funded over 25 startups and raised a USD 10 million fund, while engaging with more than 1,000 active angel investors. The organization boasts an average return of 3.5X, further cementing its reputation as a reliable backer of high-growth ventures.
Commenting on the future of food delivery, Meet Jain, co-founder of BizDateUp, stated, “The rise of user-friendly apps and tech-enabled driver networks, combined with evolving consumer expectations, has made food delivery a major category. Swiggy is well-positioned to continue shaping the future of food delivery with its cutting-edge solutions and customer-centric approach.”