FoodTech startup Swiggy raises $80 million in Series E funding led by Naspers

Swiggy plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation

Bangalore-based food ordering and delivery startup Swiggy has raised $80 million in Series E funding, led by Naspers, a global internet and entertainment group.

Earlier investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners have joined the round.

As per agreement, Ashutosh Sharma, head of investments in India for Naspers will join the Swiggy board.

The new funds will propel the next phase of Swiggy’s growth by introducing a suite of new product and service offerings to enhance its superlative customer experience, it said in a press release. Swiggy also announced plans to double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation.

Launched in 2015, Swiggy is a leading one-stop solution for consumers’ food needs. It claims its innovative technology, large delivery service, and customer focus enable a host of benefits including lightning fast deliveries, live order tracking, no restrictions on minimum order amounts, and strong customer support.

“In a span of three years, Swiggy has been instrumental in changing the way India eats by delivering delightful customer experiences. This investment by Naspers is further testimony to Swiggy’s vision and performance,” said Sriharsha Majety, co-founder and CEO, Swiggy.

“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; making online food ordering and delivery more seamless and reliable to users everywhere,” he added.

Swiggy has partnered with 12,000 restaurants across eight locations in India, including Delhi-NCR, Mumbai, Pune, Hyderabad, Kolkata, Bengaluru and Chennai.

 

Fahmin Zain

A crazy startup enthusiast

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