Swiggy has raised USD 80 million in series-E funding.
The deal was led by Naspers, a global internet and entertainment group, with earlier investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners participating. Ashutosh Sharma, head of investments in India for Naspers will join the Swiggy board.
Naspers said “Swiggy has shown impressive growth in a highly competitive market. Naspers was attracted to the company’s exceptional execution in disrupting online food ordering and delivery in India while many players are struggling. Their ability to create a sustainable business, earning consumer trust through a reliable first-party delivery technology, positions them well for success.”
Last FY, Swiggy recorded revenue of Rs. 23.6 crores and loss of Rs. 137 crores.
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