Swiggy Raises $100 Million Funding Through Naspers & Meituan-Dianping
Swiggy has been taking the startup world by a storm and they show no sign of stopping! Swiggy said it has raised $100 million in a Series F funding round led by Naspers, the global internet and entertainment group. New investor Meituan-Dianping, China’s largest group-buying and restaurant review service, is the new investor in this round.
Swiggy plans to use this funding to strengthen its market leadership position by introducing a host of unique and advanced products and services. They will also make investments in its new supply business line to solve existing supply gaps in the marketplace.
“We want to continue to bring convenience, choice and reliability to our users as we fulfil our mission of ‘changing the way India eats’,” said Sriharsha Majety, CEO of Swiggy, in a statement.
“The company’s performance is all the more impressive given the intense competition we see in the food ordering and delivery business in India,” said Larry Illg, CEO, Naspers Ventures, in a statement.