- February 20, 2020 / 5 min readApart from the above investors, Swiggy counted DST Global, Bessemer Venture Partners, Norwest Venture Partners, Accel Partners, Saif Partners etc among its investors.
Bengaluru based food-tech startup Swiggy has raised $112 million in Series I round of funding from Naspers.
Existing investors, including Beijing-based internet company Meituan-Dianping and Hadley Harbour Master Investments LP, also participated in the round, according to documents sourced from private investment tracking platform Paper.vc.
The company last raised Series H round of $1 billion from Prosus & Naspers in December 2018.
According to, Paper.vc the amount raised will be used for general business purposes of the company. With the latest round, Naspers’ ( which became the largest shareholder) holding in the company stood at 40.56 per cent while Hadley and Inspired Elite Investments’ stood at 1.09 per cent and 6.35 per cent respectively, the document showed.
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The promoter’s — Sriharsha Majety, Nandan Reddy, and Rahul Jamini — shareholding on a fully diluted basis was 10.18 per cent while institutional investors held 89.82 per cent of the company.
Apart from the above investors, Swiggy counted DST Global, Bessemer Venture Partners, Norwest Venture Partners, Accel Partners, Saif Partners etc among its investors.
“With the current investment, Naspers continues to remain the largest shareholder in Swiggy, with a holding of 40.56 per cent on a fully diluted basis. This investment is part of Swiggy’s plan to raise up to $1 billion for its food delivery and cloud kitchens business. There have been reports of SoftBank looking to invest in Swiggy, but that has not happened yet,” shared Sonia Pradhan, Founder, Paper.vc.
Earlier this month, the food ordering and delivery aggregator has launched a new initiative 'BrandWorks' to co-create delivery brands with its restaurant partners. BrandWorks provides a different menu, images, packaging and pricing from the restaurant's usual menu.
The company’s move is aimed towards catering a gap in the food delivery requirement of particular areas.Trending ArticleDaily UpdatesWhich is the highest format preference of Fun-Seeker?
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