Bengaluru-based Swiggy raises $43M more for Series I round from existing, new investors
by YourStory 2020-04-07
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source: Swiggy

Bengaluru-based foodtech unicorn Swiggy has raised $43 million funding as a part of its ongoing Series I investment round. The total funds raised in this round is now at $156 million. Along with Tencent, the round saw participation from Ark Impact, Korea Investment Partners, Samsung Ventures, and Mirae Asset Capital Markets. 

The Series I round was initiated in February this year, where the foodtech startup had raised $113 million led by Prosus NV (previously Naspers), along with Meituan Dianping and Wellington Management Company.

Rahul Bothra, CFO, Swiggy, said in a press statement shared by the company 

“Swiggy has built a sustainable food delivery business over the years while solving various customer pain points. As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year, and welcome the new investors on board. Our focus remains to execute on our vision while building a sustainable path to profitability.”

With this funding, the valuation of the company continues to be $3.5 billion.

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