Bengaluru-based food ordering and delivery startup Swiggy has acqui-hired the management team of Bengaluru-based gourmet Asian food startup 48East in order to further broaden its senior leadership.
Following this acqui-hire, the company looks to serve its consumers more efficiently and consequently grow in the market. As per the terms of the deal, 48East founders Joseph Cherian and Nabhojit Ghosh will join the Swiggy team, with the former acting as the COO of Swiggy’s New Supply business line.
In his new role as the New Supply COO, Cherian’s expertise in the food infrastructure space will further strengthen Swiggy’s focus on solving for gaps in consumer supply through various strategic initiatives such as the recently-launched Swiggy Access.
Commenting on the development, Sriharsha Majety, co-founder, and CEO of Swiggy said, “With their deep understanding of the food space and an impressive track record of delivering a great consumer experience, the 48East team will equip Swiggy with additional capabilities. We are excited to work with them towards our vision of changing the way India eats.”
The development comes just a week after the foodtech startup hired Vishal Bhatia as the CEO of New Supply and former OLAM executive Rahul Bothra as its first ever Chief Financial Officer. Consequently, Cherian will assist Bhatia in building the vertical and Swiggy Access through 2018.
Swiggy Access, for the uninitiated, is an initiative aimed at reaching more customers and making its delivery more seamless. Geared towards facilitating the business expansion of partners on the platform, the new service allows restaurant partners to set up kitchen spaces in areas where they do not have a physical presence.