April 2020 \ Business & Investment \ BUSINESS AND GOVERNANCE
Swiggy raises $43 million

Food delivery platform Swiggy in April announced ...

  • Mr Rahul Bothra

Food delivery platform Swiggy in April announced it has received an additional $43 million funding as part of its ongoing Series I round. The Series I round, initiated in February this year, earlier raised $113 million led by existing investor Prosus N.V., along with participation from Meituan Dianping and Wellington Management Company, the company said in a statement.

The size of the round now stands at $156 million. “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,” said Rahul Bothra, CFO, Swiggy.

“Our focus remains to execute on our vision while building a sustainable path to profitability, he added. Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated in this closing round. Media reports said on Monday that Zomato also raised $5 million from British investment manager Baillie Gifford’s Pacific Horizon Investment Trust. A query set to Zomato went unanswered. Zomato earlier raised $150 million from existing investor Ant Financial, an affiliate of Alibaba.

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