Online Food Delivery Startup Swiggy Raises $15 million from Bessemer

 

 

19 September 2016, India :

Swiggy, India’s largest food ordering and delivery platform, has raised $15 million in a Series D funding from Bessemer Venture Partners. Existing investors also participated in this round.

This is close on the heels of the Series C funding of $35 million raised in January 2016, from existing and new investors, including New York-based investors Harmony Partners and Singapore-based RB.

Speaking on the Series D fund raise, Sriharsha Majety, Co-founder and CEO, Swiggy, said, “We are excited about the funding as this is a validation of our performance and recognition of our leadership, in addition to being testament to the tremendous potential of the food tech sector. Our strong growth in the last few months shows that our customers are increasingly becoming accustomed to a new behaviour of ordering food for the experience, rather than only for convenience. Our vision is to change the way India eats and we want to be the top of mind recall for the users for all their four meals a day.”

The investment takes the total funds raised by India’s largest food ordering platform to $75.5 mn. The freshly raised funds will fuel Swiggy’s next growth phase, with an improved customer experience at its core. This will include technology upgrades, a wider spread of restaurants to choose from and better delivery efficiency.

Swiggy is a food ordering and delivery company based out of Bangalore, India. It was inspired by the thought of providing a complete food ordering and delivery solution from the best neighbourhood restaurants to the urban foodie.

A single window for ordering from a wide range of restaurants, It has exclusive fleet of delivery personnel to pickup orders from restaurants and deliver it to customers.

“We are excited to partner with Swiggy. Swiggy’s full stack approach coupled with great execution has resulted in unparalleled customer experience, retention and business economics. We look forward to working with Sriharsha and the management team as they further cement Swiggy’s leadership position in the India market.” said Vishal Gupta, Managing Director at Bessemer Venture Partners. Source- USA Today

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