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Swiggy raises $35M; claims 20x growth in the last few months

Online food ordering startup Swiggy has raised Series C funding worth $35 million from new investors Harmony Partners and Singapore based RB investments and existing investors SAIF Partners and Norwest Venture Partners. It will use the funds for user acquisition and tying up with more restaurants, technology upgrades, hiring, vendor integration, reducing overall delivery time and cost and enhancing customer experience. The company said that it will focus on profitability and sustainability in its established markets, without naming them. It also claims to have a high percentage of repeat customers. It claims to maintain an average delivery time of 36 minutes per order, despite growing over 20 times in the ‘last few months’. Swiggy claims to have 5,000 restaurants listed on its platform, and now operates in 8 cities, namely Bangalore, Gurgaon, Hyderabad, Delhi, Mumbai, Pune, Kolkata and Chennai. It also has 'cloud kitchens' on its platform, along with an in house cloud kitchen and the option to pre-order meals. Cloud kitchens deliver food through their apps or websites, but do not have a physical restaurant. Previous funding: - In June last year, the company raised Series B funding worth $16.5 million led by Norwest Venture Partners, for expanding to other cities and brand marketing. At that time, the company claimed that over 50% of its daily orders were shifting from the website to its app (both Android and iOS). - In April 2015, the Bangalore-based service raised $2.5 million from Accel Partners and SAIF Partners. At that time, it took…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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