Swiggy, India’s online food delivery platform, raises $ 1.25 billion, or 18 billion ren, under the direction of Prosus and SoftBank. That investment becomes Swiggy’s strategy Expansion of the core business of food delivery and development of new food and non-food offerings 2021 and beyond.
To help with this, Swiggy Improve technology and AI skills, and strengthen engineering, product, data science, and analytics teams as in Business and supply chain for his more recent initiatives.
Swiggy was founded in 2014 and is Leader in hyper-local delivery market in India, Connect consumers with over 150,000 restaurant partners and stores in over 500 cities. Its instant grocery delivery service, Instagram, growing rapidly to create the convenience food category within India’s vast grocery delivery segment. Swiggy has also expanded its pick-up and drop-off service, Swiggy genius, in 65 cities and deepened the presence of its Meat delivery service in key markets.
“As a long-term investor in Swiggy, we are consistently impressed by the solid business that Swiggy has built and that has stood out in India, among others. Swiggy is committed to providing unparalleled service to consumers, meeting their needs in a range of services while being the most sought after platform for restaurants and delivery partners, ”said Larry Illg, CEO, Prosus Food.
“Prosus has one of the most comprehensive views on grocery delivery in the world given the scope of our portfolio, and Swiggy continues to show strong execution and one of the best operational teams in grocery delivery in the world. We are confident that Swiggy is well on its way to building one of the most admirable Indian companies that is making a positive impact on the lives of Indian consumers on a daily basis. “
Prosus entered the grocery delivery market in 2013 and Invested in Swiggy for the first time in 2017. Prosus now has the world’s leading food marketplaces (3P) and first-time suppliers (1P) in its portfolio. Today Prosus’ grocery stores are including Delivery Hero, iFood and Swiggy as well as recent investments in Wolt, Oda and Flink, are available in 69 markets worldwide.