your password has been reset successfully, Please login again.

Swiggy raised 210 million dollar funding from Naspers and enters unicorn club

The latest funding, led by Naspers and billionaire Yuri Milner’s DST Global, values Swiggy at roughly 1.3 billion dollar
BY BEx Bureau
BusinessEx
Jun 22, 2018

Swiggy raised 210 million dollar from a group of investors, catapulting Indias largest food delivery service provider into a select club of startup unicorns with a valuation of 1 billion dollar or more.

The latest funding, led by Naspers and billionaire Yuri Milners DST Global, values Swiggy at roughly 1.3 billion dollar, surpassing rival Zomatos 1.1 billion dollar valuation based on a February fund-raising round.

Swiggy, founded in August 2014, is one of the fastest entrants into the unicorn club. The latest fund-raising will add pressure on Zomato to raise additional funds quickly to keep pace with its Bengaluru-based rival in the online food-delivery business. On 2 April that Zomato was in talks to raise 200-400 million dollar.

Swiggy, which is by far Indias best-funded food delivery start-up, plans to use the funds to ramp up its supply-chain network and expand to new markets, the company said in a statement.

Swiggy, which has emerged as the breakout consumer internet start-up of the past five years, has easily been the most prolific food delivery start-up in terms of its ability to continue raising funds from deep-pocketed foreign investors. It has raised about $465 million till date, according toMintresearch. Barely four months ago, Swiggy raised 100 million dollar from South African media giant Naspers.

Please add your Comment
SIMILAR News
November 16, 2018
This acquisition will help FarEye to reinforced its growth plans to solve challenges for long-haul a ...More
By Vaishnavi Gupta
November 14, 2018
True North has acquired a 75% stake in Shree Digvijay Cement Company Ltd from Brazil-based Votoranti ...More
By Vaishnavi Gupta
November 13, 2018
The investment is made by the firm to boost its capabilities to deliver tech solutions that will hel ...More
By Vaishnavi Gupta
November 12, 2018
With this acquisition, Mphasis will increase its end-to-end capabilities in the public cloud domain, ...More
By Vaishnavi Gupta
November 12, 2018
This acquisition will help Mumbai-listed AGC to add over $600 million in annual revenue and about 3, ...More
By Vaishnavi Gupta
November 09, 2018
The acquisition is in line with the company's strategy to boost the value for its stakeholders throu ...More
By Vaishnavi Gupta
November 03, 2018
Viithiisys, with this acquisition, will expand its product portfolio and list of clients. ...More
By Vaishnavi Gupta
November 02, 2018
Post acquisition, W12 Studios will be a part of TCS Interactive, the digital division of the IT serv ...More
By Vaishnavi Gupta
November 01, 2018
The fresh funds will be used by Turms to expand its product categories, hire tech talent and launch ...More
By Vaishnavi Gupta
October 31, 2018
The funds raised will be used by Duroflex to expand to new markets across India. ...More
By Vaishnavi Gupta
October 30, 2018
With this deal, ZipGo will become the country's largest technology-driven, business-to-customer bus ...More
By Vaishnavi Gupta
October 29, 2018
For acquiring Red Hat, IBM will pay $190 per share in cash. ...More
By Vaishnavi Gupta