Recently FoodTech major Swiggy has announced that the company has executed definitive agreements to raise $210 million in Series G funding led by existing investor Naspers and new investor DST Global. Meanwhile the round will also see participation from existing shareholder, Meituan-Dianping and new investor, Coatue Management. Accordingly the latest investment follows a $100 million Series F round from February of this year, also led by Naspers with participation from existing shareholder, Meituan-Dianping.
Presently Swiggy believes that its position is driven by a world-class consumer experience and technology platform, leading to industry best repeat orders and a three-fold increase in revenues in the last financial year. Moreover 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.
As per report Swiggy currently has over 35,000
restaurants on board and a delivery fleet of more than 40,000 partners.
Moreover apart from geographical expansion, the company also recently
introduced Swiggy POP and Swiggy Scheduled to solve for the availability,
affordability, choice and convenience of food.
