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Swiggy raises USD 113 Mn led by Naspers

Feb 20, 2020 by The Passage Team
Swiggy raises USD 113 Mn led by Naspers

Online food ordering platform Swiggy has raised USD 113 million, led by existing investor South African internet giant Naspers.

Other existing investors, Hadley Harbour Master Investments and Chinese local services platform Meituan, also participated in the round, according to filings with the Ministry of Corporate Affairs.

Of the investment, about USD 100 million is from Naspers, which is its largest investor with around 40.6% stake. Meituan holds 6.35% in Swiggy.

“Over the last couple of years...we have made strong strides in our vision of delivering unparalleled convenience to urban consumers.. and created multiple growth avenues for our partners while continuing to invest in new lines of business,” Sriharsha Majety, CEO and cofounder of Swiggy, said in a statement.

Source: Economic Times

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