Exclusive: Swiggy COO Vivek Sunder to step down, founder Sriharsha Majety will oversee role

Majety further said that Sunder played a pivotal role in expanding the geographic footprint of the marketplace business taking Swiggy beyond 500 plus cities  and also played a key role in holding the fort during the Covid19 lockdown phases. Swiggy will be initiating a search for the next COO.

Sunder, who joined Swiggy three years ago, is a veteran from the FMCG space and was also the public face of the organisation, as it bet big on its online grocery service Instamart and its on-demand delivery service Genie.

Prior to joining Swiggy, he held the position of managing director for P&G’s East Africa operations. Vivek is a graduate of the Indian Institute of Management (IIM) Calcutta, where he specialized in Marketing, Finance & Economics.

Swiggy is also close to sealing a billion dollar funding round that will see significant investment from SoftBank.

Moneycontrol reported earlier that SoftBank will invest $450-500 million in Swiggy at a post-money valuation of close to $5.5 billion.

The investment from SoftBank will come on top of $800 million series J round that Swiggy recently closed, with Falcon Edge, Amansa, Think Investments, Carmignac and Goldman Sachs at a valuation of $5 Billion. Swiggy's over $1.2 billion fund raise will give it significant firepower at a time when rival Zomato is looking to hit the public markets.