Swiggy raises additional $43 mn as part of ongoing funding round

NEW DELHI: Food ordering and supply platform Swiggy on Monday stated it has raised an additional quantity of $43 million (over Rs 325 crore) as part of its ongoing Series-I funding round.
The dimension of the round now stands at $156 million. In February 2020, Swiggy raised $113 million (over Rs 805 crore) within the funding round led by present investor Prosus N.V. together with participation from Meituan Dianping and Wellington Management Company.

Along with present investor Tencent, new traders Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated within the newest fund elevate, Swiggy stated in a press release.

“Swiggy has built a sustainable food delivery business over the years while solving various customer pain points. As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board,” Swiggy Chief Financial Officer Rahul Bothra stated.

The firm’s focus stays to execute its imaginative and prescient whereas constructing a sustainable path to profitability, he added.

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