Food delivery start-up Swiggy said it had raised $80 million in series-E funding led by the South African Internet and media group Naspers.
Existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners also participated in this round.
“Naspers was attracted to the company’s (Swiggy) exceptional execution in disrupting online food ordering and delivery in India while many players are struggling,” said Ashutosh Sharma, head of investments in India, Naspers, in a statement.
Swiggy said it would use the funds to propel the next phase of its growth. The firm would introduce a suite of new product and service offerings to enhance its customer experience. Swiggy also said it planned to double its technology headcount and increase investments in core engineering, automation, data sciences, machine learning and personalisation.
Unlocking potential
Swiggy said it had unlocked the business potential for partner restaurants across eight locations in India , including Delhi-NCR, Mumbai, Pune and Hyderabad.