In yet another key exit from Swiggy, Karan Arora, the Vice President and Head of Supply Chain Management at Instamart, a subsidiary of Swiggy, has resigned after a tenure of three and a half years.
Arora left his position as Head of Supply Chain Management at Medlife to join the firm in 2020 as an Assistant Vice President.
“From starting with five dark stores, a 15,000 square feet warehouse, and 1,500 SKUs to expanding to over 500 dark stores, more than 2 million sq.ft of warehouse space, and 10,000+ SKUs, including industry-first FnV processing centers – the journey has been incredible. As I pause and reflect, I want to express my heartfelt gratitude to everyone who made this journey possible,” Arora shared in a LinkedIn post.
In his post, Arora also announced that he will be teaming up with Karthik Gurumurthy, former head of Swiggy Instamart, as a co-founder for Gurumurthy’s new offline retail venture, Convenio.
In January, Gurumurthy secured $3 million in funding for Convenio from Matrix Partners India and a group of angel investors.
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Meanwhile, the company has not yet announced a replacement for Arora.
“During his 3.5-year tenure with Swiggy, Arora played a pivotal role in establishing Swiggy Instamart. As he ventures into his entrepreneurial path, we offer our best wishes and unwavering support from the Swiggy team,” the startup stated.
This recent exit from Swiggy adds to the series of high-profile departures from the company in a short period.
Several key individuals, 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 co-founder Vivek Kapoor, have stepped down from their roles since late last year.
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This comes at a time when the company is gearing up for its mega $1 billion public listing later in FY24. To bolster its IPO efforts, the company has been reducing its marketing expenditures and employee expenses.
The company successfully reduced its losses to $207 million (INR 1,730 crore) in the first nine months of FY24, compared to a net loss of INR 4,179.3 crore in the previous fiscal year.
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