Home Food Swiggy raises additional US$ 43 million in Series I round

Swiggy raises additional US$ 43 million in Series I round

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Food delivery platform on Monday announced it has received an additional US$ 43 million funding as part of its ongoing Series I round.

Swiggy raises additional US$ 43 million in Series I round

The Series I round, initiated in February this year, earlier raised US$ 113 million led by existing investor Prosus N.V., along with participation from Meituan Dianping and Wellington Management Company, the company said in a statement.

The size of the round now stands at US$ 156 million.

“As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board,” said , CFO, Swiggy.

“Our focus remains to execute on our vision while building a sustainable path to profitability, he added.

Along with existing investor Tencent, new investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have participated in this closing round.

Media reports said on Monday that Zomato also raised US$ 5 million from British investment manager Baillie Gifford’s Pacific Horizon Investment Trust. A query sent to Zomato went unanswered.

Zomato earlier raised US$ 150 million from existing investor Ant Financial, an affiliate of Alibaba.