Indian food delivery start-up Swiggy secures Series G $210m investment

22nd June 2018 (Last Updated June 22nd, 2018 11:59)

India-based online food ordering and delivery platform Swiggy has raised a Series G investment of $210m, co-led by global internet and entertainment group Naspers.

Indian food delivery start-up Swiggy secures Series G $210m investment
Swiggy to expand online ordering business with $210m. Credit: LevelUp.

India-based online food ordering and delivery platform Swiggy has raised a Series G investment of $210m, co-led by global internet and entertainment group Naspers.

The funding is scheduled to close upon satisfaction of customary closing conditions and is the third investment for the company from Naspers. Recent investments include $100m Series F and $80m Series E funding.

Swiggy will use the investment to expand its presence to new markets and grow its supply chain network.

It will also invest in enhancing the brand and consumer experience, as well as doubling its technology team.

Swiggy CEO Sriharsha Majety said: “We’re thrilled to have grown the online food delivery market in India at an exponential rate, always keeping our consumers at the helm.

“With this investment, we will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem.

“Continual trust from globally-reputed investors strengthen our core objective of enriching the lives of our consumers and partners by making our services more convenient and hassle-free.”

Established in 2014, Swiggy has a network of more than 35,000 restaurants on its platform and a delivery fleet of more than 40,000 partners.

Apart from Swiggy, Naspers has also invested in various food delivery platforms such as Delivery Hero within 36 countries and iFood in Brazil and Mexico.