Swiggy Obtains $210 Million in Funding From DST Global and Naspers

Swiggy obtains $210 million in funding from DST Global and Naspers, as the company announced on Thursday, stating that ‘it will used the funding to further augment on-demand delivery technology and broaden Swiggy’s product and service offerings.’

An Indian food ordering and delivery platform – Swiggy has just announced that it has received Series G funding led by its new investor i.e. Internet investment group located in Hong Kong – DST Global and an existing investor – Naspers, a multinational internet and media group.

The food startup company has raised funding amount as bigger as $ 210 million (nearly Rs. 1,431 crores), just after a few months of acquiring $100 million (nearly Rs. 642 crores ) funding from the South African Internet, a Chinese group – Meituan-Dianping and a global internet & entertainment group – Naspers itself.

The most recent funding will also get interest from Meituan-Dianping as well as new investors Coatue Management, according to Swiggy.  the competitor Zomato just raised an investment of $150 million, i.e. roughly Rs. 977 crores from a unit of China’s Alibaba Group Holding, which esteemed the delivery service providers at more than $ 1 billion, i.e. roughly Rs. 6,500 crores.

Swiggy’s CEO, Sriharsha Majety said in a statement that, “With this investment, we will continue to widen Swiggy’s offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem. Continual trust from globally reputed investors strengthens our core objective of enriching the lives of our consumers and partners by making our services more convenient and hassle-free.”