New Delhi: Swiggy, the leading on-demand delivery platform in India, on Tuesday announced the close of funds of $ 1.25 billion.
Funding marks the first investment in the Indian food delivery category by Softbank Vision Fund 2, with long-term swiggy investors, prosus and with participation by existing investors, Accel Martect and Wellington Management.
In addition, Qatar’s new investor investment authorities, capital Edge Falcon, Amansa Capital, Goldman Sachs, Think Investments and Carmignac participated in the round.
The funds will be used to accelerate the growth of food administration and invest in non-food categories because Bengaluru’s company is based on total markets that can be addressed for the convenience to grow up to 500 million users in the next decade.
To support this, Swiggy will improve its ability in technology and AI, and strengthen teams throughout the techniques, products, science and analytics as well as in business and supply chains for newer initiatives.
“The scope of food giving in India is massive and over the next few years, we will continue to invest aggressively in growing this category.
Our biggest investment is in our non-food business that has witnessed exceptional consumer love and growth in the range Short, especially in the last 15 months pandemic, “said Sriharsha Majety, CEO, Swiggy.
“I believe in the next 10-15 years it offers a lifetime opportunity for companies such as Swiggy because the Indian middle class develops and our target segments for the convenience grow to 500 million users,” he added.
Instant Swigggy instant instant shipping service, Instamart has grown rapidly to create wholesale categories in the delivery segment of large Indian food ingredients.
Swiggy has also expanded pickup and drop services, Genie Swiggy, to 65 cities and deepened the existence of its meat delivery services in the main market.
Supr Daily, Swiggy daily wholesale shipping service, is present in all major cities of India.