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For some of the players FoodTech hasn’t been rewarding and has led to their abrupt shutdown due to paucity of funds (Read: FoodTech Startup Yumist shuts down) and for others It may have been a life changing lesson (Read FoodPanda:From a dying out FoodTech to a 64% jump in revenue.).
One of the leading Food Tech Swiggy which has worked frugally and has successfully marked its marketshare in the food aggregation market has acqui-hired the management team of Bengaluru-based gourmet Asian food startup 48East.
Why did Swiggy acquihire gourmet Asian food startup 48East?
Swiggy has been on the talent hunt to widen its senior leadership panel to have all forces of growth and talent on one platform. With this acqui-hire, the company shall be able to serve its consumers better in terms of variety, quality of food and seamless operations to have the delivery and packaging intact.
As per 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.
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.”