Swiggy raises additional $43m to support its new businesses. Credit: vinayakg / Pixabay.

Indian online food delivery platform Swiggy has secured an additional $43m as part of its ongoing Series I funding round.

A number of investors, including Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital, participated in the round.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

With the new funding, the company has raised a total of $156m in the round. Less than two months ago, Swiggy secured approximately $112m in the ongoing round that was led by South African company Naspers.

According to the Business Standard, the food delivery platform is now valued at $3.65bn.

Swiggy CFO Rahul Bothra said: “Swiggy has built a sustainable food delivery business over the years while solving various customer pain points.

“As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“Our focus remains to execute on our vision while building a sustainable path to profitability.”

The company plans to use the new proceeds to boost its new businesses and expand grocery delivery and micro-delivery sectors.

Recently, another food delivery business in India Zomato raised approximately $5m in a new funding round led by the UK-based Pacific Horizon Investment Trust.

Both fundraisings took place at a time when Indian food delivery business has been significantly affected by the Covid-19 outbreak.

Swiggy and Zomato have reportedly witnessed a 70% drop in online orders after the government announced a 21-day lockdown to prevent the spread of the disease.

India has confirmed more than 4,700 Covid-19 cases on 7 April.