Swiggy Raises $80 Million
South African media organization Nasper has pumped $80 million into the online food delivery start-up Swiggy in the Series E funding. Ashutosh Sharma, head of investments in India for Naspers will join the board of the organization.
Existing Investors Accel Partners, SAIF Partners, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners took an interest in the funding round.
The new round of funds is to be utilized for innovative headways, including automation, data sciences, machine learning and personalization.
“In a span of three years, Swiggy has been instrumental in changing the way India eats by delivering delightful consumer experiences. As the market leader, we are leveraging our deep understanding of the Indian consumer and the gaps in the market to introduce disruptive and highly differentiated service offerings,” Sriharsha Majety, co-founder and CEO at Swiggy, said in a statement.
The online food ordering segment has been extremely hit within the last few years with new companies like Dazo and Eatlo close shop and many got acquired.
Swiggy presently works in eight urban areas—Bengaluru, Delhi, Mumbai, Chennai, Pune, Gurgaon, Hyderabad and Kolkata. The organization is likewise piloting its own particular kitchens in Bengaluru.