Swiggy receives US$210 million fund from Naspers and DST Global

Swiggy has announced that it has signed definitive agreements to raise US$210 million in Series G funding led by existing investor Naspers and new investor DST Global. The round will also see participation from existing shareholder, Meituan-Dianping, and new investor, Coatue Management. The latest investment follows a US$100-million Series F round from February of this year, also led by Naspers with participation from existing shareholder, Meituan-Dianping. The rapid growth enables Swiggy’s reliable, fast and convenient deliveries from over 35,000 restaurants, and a delivery fleet of more than 40,000 partners, has not only distinguished the company in the Indian food delivery space but has also helped to elevate the potential of the category in the country.

The latest round will enable Swiggy to quickly ramp up its supply chain network and expand to new markets, while investing in core capabilities that enhance consumer experience and the brand. The company will also double its technology headcount to build for robust operations, deep personalization and connected supply chain systems.

“We’re thrilled to have grown the online food delivery market in India at an exponential rate, always keeping our consumers at the helm. With this investment, we will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem,” says Sriharsha Majety, CEO, Swiggy. “Continual trust from globally reputed investors strengthens our core objective of enriching the lives of our consumers and partners by making our services more convenient and hassle-free.”

“Swiggy has the best technology platform in the market and when combined with its business model, which caters to the unique demands of the Indian ecosystem, enables the company to deliver the best possible service to Indian consumers,” says Larry Illg, CEO of Naspers Ventures. “This infusion of capital, making Swiggy the best-funded food delivery platform in India, ensures that ambitious plans for broadening their platform and expanding their reach across India will be realized.”

Since the last round of funding, Swiggy has begun operations in Kochi, Coimbatore, Nagpur and Lucknow and introduced innovative payment options for both consumers and delivery partners. Recently, the company has also introduced Swiggy POP and Swiggy Scheduled to solve for the availability, affordability, choice and convenience of food.