Funding · Commerce & Consumer Brands

Swiggy raises $100 million in Series F round

By Startup Enthusiast · 19 February 2018

What they do

Swiggy is an online platform for ordering food from restaurants and getting it delivered

It raised $100 million in Series F funding from Naspers and Meituan-Dianping

The round came just after Alibaba invested $200 million in rival Zomato

Swiggy announced a $100 million Series F funding round two weeks before this report.
The round was led by Naspers, which invested $59.6 million (Rs 385 crore).
Meituan-Dianping co-led the round with an investment of $39.6 million (Rs 256 crore).
The Series F round came just after Alibaba invested $200 million into rival Zomato.
Alibaba and Tencent are competing in India's O2O (online-to-offline) space, mirroring their rivalry in China.
Alibaba invested $1 billion in Ele.me in May 2017.
Tencent and Priceline invested $4 billion in Meituan-Dianping in November 2017.

Alibaba aims to develop use cases for Paytm in India, similar to Alipay in China.
Tencent is driven by FOMO (fear of missing out) and looking to double down investments in India.
Instant food delivery, grocery, and home services are the largest O2O verticals in India.

Swiggy is an online food ordering and delivery platform.
It connects customers with restaurants and delivers orders to their doorstep.
The company operates in multiple cities across India.
It makes money through delivery fees and commissions from restaurants.
Swiggy has raised a total of $225 million in risk capital from investors including Naspers, Meituan-Dianping, Accel India, SAIF Partners, Bessemer, and three others.

Naspers (lead)
Meituan-Dianping (co-lead) — A Chinese platform that also sells grocery, air ticket bookings, and hyperlocal deals.