The latest investment follows a $100 million Series F round that the Bengaluru-based company raised in February from Naspers and Meituan-Dianping.
The company, in a statement, claimed to have the industry-best repeat orders and has been able to achieve a three-fold increase in revenues in the last financial year. It has over 35,000 restaurants listed on its platform with a delivery fleet of more than 40,000 partners.The company said that with the latest funds, Swiggy plans to ramp up its supply chain network and expand to new markets, while investing in core capabilities that enhance consumer experience and the brand. The company will also double its technology headcount to build for robust operations, deep personalisation and connected supply chain systems, it said.”We’re thrilled to have grown the online food delivery market in India at an exponential rate, always keeping our consumers at the helm.
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, “said Sriharsha Majety, CEO, Swiggy.
