Food tech start-up Swiggy raises $80 million from Naspers

31 May 2017 | News | By NFS Correspondent

Food tech start-up Food tech start-up

Swiggy, the online food delivery start-up which is active in eight cities in the country raised $80 million (over Rs 517 crore) in a Series E funding round led by South African media and internet conglomerate Naspers Ltd.

Ashutosh Sharma, who is head of investments in India for Naspers will join the Swiggy board. 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.

The funds will help Swiggy introduce new products and service offerings to enhance its customer experience.

Existing investors Accel partners, SAIF Partners, Bessemer venture Partners, Harmony Partners and Norwest Venture Partners also participated in the funding round.

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.

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