Swiggy COO Vivek Sunder steps down, CEO Majety to assume additional role

Vivek Sunder, chief operating officer (COO) of food delivery unicorn Swiggy, has resigned and will be leaving the company effective October. 

The announcement was made by co-founder and CEO Sriharsha Majety in an internal email. Majety will take over the role with immediate effect. 

“He (Sundar) played a pivotal role in expanding the geographical footprint of the marketplace business taking Swiggy beyond 500+ cities, and later rallied the organization to drive a step change in the unit economics of the marketplace business. He also played a key role in holding the fort in our on-ground operations during the COVID lockdown phases,” Majety wrote to his employees. TechCircle has reviewed a copy of the letter. 

He also acknowledged Sundar’s contributions in supply and operations, advocating scalability and consumer focus, and representing the company across media, industry forums, and campuses. 

Swiggy appointed Sunder as its first ever COO in July 2018. He joined the company after a long stint of about 20 years at FMCG major Procter & Gamble where in his last role, he was the managing director for East Africa region.  

“Vivek will be missed for his zeal, for always pushing the boundary on consumer thinking and the functional mastery he brought to the table. I thank him for his contributions and wish him all the very best in all his future endeavours,” Majety said in his letter. 

About a year ago, Swiggy’s co-founder and CTO Rahul Jaimini moved away from the company to co-found Pesto Tech, an HR tech company for software engineers in India.  

Swiggy raised around $800 million in its last known funding round. Falcon Edge Capital, Goldman Sachs, Think Capital, Amansa Capital and Carmignac have joined as new investors. Existing investors Prosus Ventures and Accel also participated in the round which valued the company at close to $5 billion. 

Swiggy’s primary rival Zomato is preparing for an initial public offering (IPO) this year. In late April, it filed its draft red herring prospectus with markets regulator SEBI for a Rs 8,250 crore offering (IPO). The IPO would be the first for an India-born foodtech company.