New Delhi: Online food delivery platform Swiggy today said it has raised $80 million (over Rs 517 crore) in series E funding led by global internet group and technology investor Naspers. The funding saw participation from other existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners.
The funds will help Swiggy introduce new products and service offerings to enhance its customer experience, Swiggy said. Naspers has also invested into the parent company of Swiggy’s rival foodpanada, Delivery Hero.
The food ordering platform also said it plans to double its tech headcount and increase investments across core engineering, automation, data sciences, machine learning and personalisation. Besides, the firm said Ashutosh Sharma, head of investments in India for Naspers will join the Swiggy board.
Commenting on the development, Mr Sharma said, “Naspers was attracted to the company’s exceptional execution in disrupting online food ordering and delivery in India while many players are struggling. Swiggy claims to have witnessed a six-fold growth in revenues over the last year and has 12,000 restaurant partners across eight cities in India.
