BREAKING NEWS

Naspers serves up additional investment in Swiggy, leading USD 100 million round

Naspers, a global internet and entertainment group and one of the largest technology investors in the world, today announced that it has made an additional investment in Swiggy, India’s leading online food ordering and delivery platform. The company led a $100m Series F investment that follows an earlier $80m investment round led by Naspers. The capital provides for further growth as Swiggy expands across India and will also help to strengthen Swiggy’s market leadership position by improving the superior consumer experience on its platform through investment in technology, new service offerings, logistics and restaurant services.

Swiggy has been at the forefront of the Indian market for online food ordering and delivery since it was founded in 2014, and continues to grow at a rapid pace. With over 25,000 restaurants now on its platform across 11 cities, Swiggy has seen revenue and orders grow significantly over the last twelve months while setting the industry benchmark for delivery time of under 35 minutes.

 “Swiggy has continued strong growth through 2017 and now has a clear lead in the market,” said Larry Illg, CEO, Naspers Ventures. “The company’s performance is all the more impressive given the intense competition we see in the food ordering and delivery business in India. Swiggy has shown it has the ability to rise above the competition and create long-term relationships with its users.”

“As India’s leading food ordering and delivery platform with a network of thousands of restaurants and millions of users, Swiggy has become part of consumers’ everyday lives. We want to continue to bring convenience, choice and reliability to our users as we fulfil our mission of ‘Changing the Way India Eats’,” said Sriharsha Majety, CEO, Swiggy. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core.”

Naspers has deep expertise in building marketplace businesses globally, and the company’s recent expansion into online food delivery is consistent with its strategy to invest in platforms with global potential. Naspers has invested in a portfolio of food delivery companies with leading businesses in 39 countries around the world, including Delivery Hero, the leading online food ordering and delivery platform in 36 countries, and iFood, the leading food delivery business in Brazil and Mexico, in addition to Swiggy in India.

About Naspers
Founded in 1915, Naspers is a global internet and entertainment group and one of the largest technology investors in the world. Operating in more than 120 countries and markets with long-term growth potential, Naspers builds leading companies that empower people and enrich communities. It runs some of the world’s leading platforms in internet, video entertainment, and media.
 
About Swiggy
Swiggy, the leading food ordering and delivery platform in the country, is changing the way India eats by becoming the most reliable one-stop solution for consumers’ food needs. Swiggy’s innovative technology, large and nimble delivery service, and customer focus enable a host of benefits including lightning-fast deliveries, live order tracking, no restrictions on minimum order amounts, and strong customer support.  More than 25,000 restaurant partners across eleven cities leverage Swiggy to reach new customers and increase their sales. 

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