Swiggy raises $210 million from Naspers, DST Global

Bengaluru, June 21 (IANS) Indian online food ordering and delivery platform Swiggy on Thursday said it raised $210 million in a Series G funding from South Africa’s Cape Town-based internet company Naspers and Hong Kong-based internet investment firm DST Global.

This seventh round of funding received by Swiggy will also see the participation of its existing shareholder Meituan-Dianping, and a new investor Coatue Management, the company said in a statement.

DST Global is also a new investor in the firm.

“The latest round of funding will enable Swiggy to ramp up its supply chain network and expand to new markets, while investing in capabilities that enhance consumer experience,” the Bengaluru-based Swiggy said.

This latest investment follows a $100 million Series F (sixth round) investment in February this year, also led by Naspers along with Meituan-Dianping.

With the funding, Swiggy aims to strengthen its technology for operations and connected supply chain systems.

“With this investment, we will continue to widen Swiggy’s offerings, along with increasing our capabilities and plugging the gaps in the on-demand delivery ecosystem,” said the company’s Chief Executive Officer (CEO) Sriharsha Majety in the statement.

So far, Swiggy has raised over $460 million, after $100 million investment in February and about $80 million in May 2017.

Founded in 2014, Swiggy delivers food across 15 Indian cities with over 35,000 restaurant partners and 40,000 delivery executives.

It is currently operational in cities like New Delhi, Gurugram, Mumbai, Pune, Kolkata, Bengaluru, Hyderabad and Chennai.