SoftBank-backed food delivery startup Swiggy is close to hiring hotel aggregation platform OYO’s global chief marketing officer, Rohit Kapoor, as the CEO of its food delivery business, according to multiple media reports. Separately, Auxano Capital, an early-stage venture capital firm, has launched a new fund that seeks to raise $25 million, a top executive told VCCircle.
OYO’s Rohit Kapoor may join Swiggy as food-delivery CEO
SoftBank-backed food delivery startup Swiggy is close to hiring hotel aggregation platform OYO’s senior executive Rohit Kapoor as the CEO of its food delivery business, according to multiple media reports.
Kapoor, who is currently OYO’s global chief marketing officer, will be the first chief executive officer of Swiggy’s food delivery business.
“Getting someone to focus full-time on food delivery is a company and board priority. In the last few quarters, the focus of the broader management has expanded to new categories. Food, which is the core engine, needs undivided attention,” an investor in the firm said.
Kapoor joined OYO in December 2018 as CEO of its real estate business, and was appointed to his current role in April 2022.
Swiggy did not respond to DealStreetAsia’s request for comment.
Auxano Capital launches new $25m fund
Auxano Capital, an early-stage venture capital firm, has launched a new fund that seeks to raise $25 million, a top executive told VCCircle.
The new fund — Auxano Dawn Fund — will continue to look for opportunities to invest in tech startups and next-generation subscription-based enterprises and will have more flexibility over an angel fund, said Brijesh Damodaran, co-founder and chief investment officer at Auxano Capital.
The angel fund has made 10 investments so far, including in edtech startup Avishkaar Box and fintech firm Stockal.
Auxano’s new fund announcement comes at a time global funds, including Sequoia, Accel, LightSpeed and Matrix Partners, have either raised new funds or are in talks to raise capital to tap tech investment opportunities in India.
In a spate of recent announcements, early-stage venture capital firm Fundamental VC, founded by startup executives, launched its debut fund of $130 million last month while Mumbai-based portfolio management service Piper Serica Advisors launched a Rs 100-crore fund to invest in 30-40 early-stage tech companies in three years.