Swiggy: $113 Million In Funding And $3.6 Billion Valuation

By Dan Anderson ● February 21, 2020
  • Swiggy, an India-based food delivery company, announced it has raised $113 million in funding led by Prosus Ventures

Swiggy, an India-based food delivery company, announced it has raised $113 million in funding led by Prosus Ventures, according to TechCrunch. This round of funding values Swiggy at $3.6 billion.

Swiggy co-founder and CEO Sriharsha Majety pointed out that the company is going to use the funding for investing in more delivery options and cloud kitchens.

In the past year, Swiggy saw more than double the number of transaction. And now the company has 160,000 restaurant partners with an average of 10,000 new ones joining every month.

Key Quotes:

“Swiggy continues to exhibit strong execution and a steadfast commitment to delivering the best service to consumers and has one of the best operational teams in food delivery globally. We are confident Swiggy will continue on a path to earn a significant place in the daily lives of Indians.”

– Larry Illg, chief executive of Prosus Ventures and Food.