The round is still ongoing so the contours of the deal may change slightly before the final close
In November last year, Swiggy’s senior vice president Gurumurthy announced his departure from the foodtech giant to launch his own startup
Gurumurthy’s new venture will be called Convenio
Karthik Gurumurthy, the architect behind Swiggy Instamart who helped scale the vertical from scratch in 2020 to a nearly $1 Bn valuation, has reportedly secured a funding of $3 Mn (around INR 25 Cr) for his new offline retail venture led by Matrix Partners India and a clutch of angel investors.
As per Moneycontrol’s report, citing sources, the round is still ongoing so the contours of the deal may change slightly before the final close.