Food delivery unicorn Swiggy has elevated Phani Kishan, the company’s vice president of strategy and investments, to the position of co-founder.
The announcement was made by company’s CEO and co-founder Sriharsha Majety in a blog post on Monday.
“Phani joined us in 2015 and over these 6 years he’s probably had the record for setting up multiple high leverage functions from the ground up,” Majety said.
Kishan joined Swiggy as general manager of new initiatives. Previously, he worked with BCG and ITC, according to his LinkedIn profile. He now joins the other two co-founders of Swiggy -- Majety and Nandan Reddy.
Majety said Kishan has played a key role in shaping the company's value.
“His energy, can-do attitude and founder mentality are all goal-worthy for any Swiggster to succeed here and make a huge impact in the company’s future,” he added.
A year ago, Swiggy’s co-founder and chief technology officer Rahul Jaimini quit to join Pesto Tech, an HR tech company.
The development comes a week after Swiggy’s COO Vivek Sunder stepped down. He oversaw the company's food delivery business.
In April 2021, Bengaluru-based Swiggy has raised around $800 million at a valuation of $5 billion from Falcon Edge Capital, Goldman Sachs, Think Capital, Amansa Capital and Carmignac.
Swiggy’s primary rival Zomato is preparing for an initial public offering (IPO) this week. It would be the first IPO for an India-born food-tech company.