: Karan Arora Steps Down, Joins Former Colleague for New Venture; Company Yet to Announce Replacement
In a recent development at Swiggy Instamart, Karan Arora, Vice President and Head of Supply Chain Management, has bid farewell to the food delivery giant after a notable three-and-a-half year tenure. Arora’s departure marks another high-profile exit amidst a series of leadership changes within the company.
Having joined Swiggy Instamart in 2020 as Assistant Vice President, Arora played a pivotal role in the expansion of the company’s supply chain operations. Under his leadership, Swiggy Instamart witnessed significant growth, scaling from five dark stores and a 15,000 square feet warehouse to over 500 dark stores, spanning more than 2 million square feet of warehouse space.
Expressing gratitude for his journey at Swiggy Instamart, Arora highlighted the collaborative efforts that contributed to the company’s success. In a LinkedIn post, he reflected on the milestones achieved during his tenure, including the establishment of industry-first FnV processing centers.
Looking ahead, Arora disclosed his plans to collaborate with former Swiggy Instamart colleague Karthik Gurumurthy for a new venture, Convenio, where he will serve as a co-founder. Convenio, an offline retail venture, recently raised $3 million in funding from Matrix Partners India and angel investors.
While Arora embarks on his entrepreneurial journey, Swiggy Instamart is yet to announce his replacement. The company acknowledged Arora’s contributions, emphasizing his role in shaping Swiggy Instamart’s growth over the years.
Arora’s departure adds to a series of notable exits from Swiggy, including Mallika Srinivasan, Karthik Gurumurthy, Dale Vaz, Anuj Rathi, Ashish Lingamneni, and Vivek Kapoor, among others. These departures coincide with the company’s preparations for its anticipated $1 billion public listing later in FY24.
As Swiggy gears up for its IPO, it has been strategically streamlining its operations, including marketing expenses and employee costs, to enhance its financial performance. Despite challenges, the company managed to significantly reduce its losses during the first nine months of FY24, signaling a strong focus on financial sustainability amidst leadership transitions.
