Now, Another VP Down At Swiggy Instamart

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Vice President and Head of Supply Chain Management oft Swiggy Instamart Karan Arora has parted ways with the food delivery major

The company is yet to announce Arora’s replacement

Moving forward, Arora will be tying up with ex-Swiggy Instamart architect Karthik Gurumurthy for his new venture, Convenio, as a cofounder

In another top-level departure at Swiggy, Karan Arora, vice president and head of supply chain management at the foodtech major-owned Instamart, has stepped down from his role after a three-and-a-half year stint.

In 2020, Arora joined the startup as assistant vice president after ending his stint as the head of supply chain management with Medlife.com.

“Starting with five dark stores, 15,000 square feet warehouse, 1,500 SKUs to 500+ dark stores, 2 Mn+ sq.ft warehouse space, 10,000+ SKUs, industry-first FnV processing centres and the list doesn’t end but now when I pause and look back for a moment, I’d like to express my gratitude to folks without whom this wouldn’t have been possible,” Arora said in a LinkedIn post. 

In his post, Arora also informed that he would be joining former Swiggy Instamart’s head Karthik Gurumurthy for his new offline retail venture Convenio as a cofounder.

In January, Gurumurthy raised $3 Mn for Convenio from Matrix Partners India and a clutch of angel investors.

Meanwhile, the company is yet to announce Arora’s replacement.

“During his tenure of over 3.5 years with Swiggy, Arora has helped in building Swiggy Instamart. As he embarks on his entrepreneurial journey, we extend our best wishes and full support from the Swiggy team,” the startup said in a statement. 

The latest departure from Swiggy adds to the string of high-profile exits from the company within a short span of time.

Key people, including, Mallika Srinivasan (independent director), Karthik Gurumurthy (senior vice president and head of Swiggy Instamart), Dale Vaz (CTO), Anuj Rathi (SVP, central revenue and growth ), Ashish Lingamneni (VP, marketing) and Dineout cofounder Vivek Kapoor, stepped down from their respective positions since late last year. 

This also comes at a time when the company is also prepping up for its 

mega $1 Bn public listing later in FY24. To fuel its IPO bid, the company has been downsizing its marketing expenses and employee costs. 

It managed to trim its losses to $207 Mn (INR 1,730 Cr) during the first nine months of the financial year FY24, down from a net loss of INR 4,179.3 Cr in the previous fiscal year. 




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Now, Another VP Down At Swiggy Instamart

SUMMARY

Vice President and Head of Supply Chain Management oft Swiggy Instamart Karan Arora has parted ways with the food delivery major

The company is yet to announce Arora’s replacement

Moving forward, Arora will be tying up with ex-Swiggy Instamart architect Karthik Gurumurthy for his new venture, Convenio, as a cofounder

In another top-level departure at Swiggy, Karan Arora, vice president and head of supply chain management at the foodtech major-owned Instamart, has stepped down from his role after a three-and-a-half year stint.

In 2020, Arora joined the startup as assistant vice president after ending his stint as the head of supply chain management with Medlife.com.

“Starting with five dark stores, 15,000 square feet warehouse, 1,500 SKUs to 500+ dark stores, 2 Mn+ sq.ft warehouse space, 10,000+ SKUs, industry-first FnV processing centres and the list doesn’t end but now when I pause and look back for a moment, I’d like to express my gratitude to folks without whom this wouldn’t have been possible,” Arora said in a LinkedIn post. 

In his post, Arora also informed that he would be joining former Swiggy Instamart’s head Karthik Gurumurthy for his new offline retail venture Convenio as a cofounder.

In January, Gurumurthy raised $3 Mn for Convenio from Matrix Partners India and a clutch of angel investors.

Meanwhile, the company is yet to announce Arora’s replacement.

“During his tenure of over 3.5 years with Swiggy, Arora has helped in building Swiggy Instamart. As he embarks on his entrepreneurial journey, we extend our best wishes and full support from the Swiggy team,” the startup said in a statement. 

The latest departure from Swiggy adds to the string of high-profile exits from the company within a short span of time.

Key people, including, Mallika Srinivasan (independent director), Karthik Gurumurthy (senior vice president and head of Swiggy Instamart), Dale Vaz (CTO), Anuj Rathi (SVP, central revenue and growth ), Ashish Lingamneni (VP, marketing) and Dineout cofounder Vivek Kapoor, stepped down from their respective positions since late last year. 

This also comes at a time when the company is also prepping up for its 

mega $1 Bn public listing later in FY24. To fuel its IPO bid, the company has been downsizing its marketing expenses and employee costs. 

It managed to trim its losses to $207 Mn (INR 1,730 Cr) during the first nine months of the financial year FY24, down from a net loss of INR 4,179.3 Cr in the previous fiscal year. 




Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

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