<p>Swiggy, an on-demand food delivery platform, on Tuesday, announced the closing of a $1.25 billion fundraise.</p>.<p>The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2 with Swiggy’s long-term investor, Prosus, one of the largest technology investors in the world. Existing investors Accel Partners and Wellington Management also participated in the fundraise.</p>.<p>In addition, new investors such as Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments, and Carmignac came on board.</p>.<p>“This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy’s rapid recovery from the impacts of Covid-19 and subsequent growth in 2020-21,” the company said. </p>.<p>Swiggy has expanded its pick-up and drop service, Swiggy Genie, to 65 cities and deepened the presence of its meat delivery service in key markets. Supr Daily, Swiggy’s daily grocery delivery service, present across major Indian cities, is reaching new users every month. </p>.<p><strong>Also read — <a href="https://www.deccanherald.com/business/business-news/cci-approves-softbank-group-entity-buying-stake-in-swiggy-1007897.html" target="_blank">CCI approves SoftBank Group entity buying stake in Swiggy</a></strong></p>.<p>This investment will further accelerate Swiggy’s multi-year strategy of growing its core food delivery business and building new food and non-food adjacencies in 2021 and beyond. To support this, Swiggy will enhance its capabilities in technology and AI, and strengthen teams across engineering, product, data science and analytics as well as in business and supply chain for its newer initiatives, the company said.</p>.<p>“The participation of some of the most visionary global investors is a huge vote of confidence in Swiggy’s mission and ability to build an enduring and iconic company out of India. The scope of food delivery in India is massive and over the next few years, we will continue to invest aggressively into growing this category,” said Sriharsha Majety, CEO, Swiggy.</p>.<p>Founded in 2014, Swiggy has become a top on-demand delivery platform. It connects consumers to over 1,50,000 restaurant partners and stores in over 500 cities.</p>
<p>Swiggy, an on-demand food delivery platform, on Tuesday, announced the closing of a $1.25 billion fundraise.</p>.<p>The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2 with Swiggy’s long-term investor, Prosus, one of the largest technology investors in the world. Existing investors Accel Partners and Wellington Management also participated in the fundraise.</p>.<p>In addition, new investors such as Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments, and Carmignac came on board.</p>.<p>“This latest fundraise was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy’s rapid recovery from the impacts of Covid-19 and subsequent growth in 2020-21,” the company said. </p>.<p>Swiggy has expanded its pick-up and drop service, Swiggy Genie, to 65 cities and deepened the presence of its meat delivery service in key markets. Supr Daily, Swiggy’s daily grocery delivery service, present across major Indian cities, is reaching new users every month. </p>.<p><strong>Also read — <a href="https://www.deccanherald.com/business/business-news/cci-approves-softbank-group-entity-buying-stake-in-swiggy-1007897.html" target="_blank">CCI approves SoftBank Group entity buying stake in Swiggy</a></strong></p>.<p>This investment will further accelerate Swiggy’s multi-year strategy of growing its core food delivery business and building new food and non-food adjacencies in 2021 and beyond. To support this, Swiggy will enhance its capabilities in technology and AI, and strengthen teams across engineering, product, data science and analytics as well as in business and supply chain for its newer initiatives, the company said.</p>.<p>“The participation of some of the most visionary global investors is a huge vote of confidence in Swiggy’s mission and ability to build an enduring and iconic company out of India. The scope of food delivery in India is massive and over the next few years, we will continue to invest aggressively into growing this category,” said Sriharsha Majety, CEO, Swiggy.</p>.<p>Founded in 2014, Swiggy has become a top on-demand delivery platform. It connects consumers to over 1,50,000 restaurant partners and stores in over 500 cities.</p>