Company Name : Swiggy
Funding Amount : $35mn
Investor(s) SAIF Partners, Norwest Venture Partners, Accel Partners , Harmony Partners, RB investments and an undisclosed global investment entity
Funding Round : Series C
Bangalore based Swiggy, has raised $35 million as ‘Series C’ round of funding from new and existing investors.
New investors participating in this round include New York based investors Harmony Partners and Singapore based RB investments. Swiggy was advised by Mumbai based Avendus Capital on the latest transaction.
Swiggy is now present in 8 cities – Bangalore, Gurgaon, Hyderabad, Delhi, Mumbai, Pune, Kolkata and Chennai with over 5,000 restaurants listed on its platform. Apart from the existing array of brick-and-mortar restaurants on the platform, it has recently begun integrating cloud kitchens to enable a wider choice for users.
In response to customer preferences and evolving habits, two new initiatives from Swiggy include an in-house cloud kitchen platform as well as the option for customers to pre-order meals.
Apart from investment in top quality leadership, the funds will be used for technology upgradation focusing on deeper vendor integration, reducing overall delivery time and cost and, enhancing customer experience.
Swiggy claims to have maintained an average delivery time of 36 minutes per order. Swiggy previously raised $ 18.5 Million from Norwest Venture Partners, SAIF Partners and Accel Partners.
Recommended Read : #IndianStartupData : Swiggy Revenues At INR 11.6 Lakhs (FY14-15).