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India’s Swiggy raises $43M to expand to new businesses

Indian food delivery startup Swiggy said on Monday it had secured an additional $43 million as it looks to expand to new businesses.

Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets provided the capital, which is part of Swiggy’s ongoing Series I financing round. In February, the Bangalore-based startup had raised $113 million as part of the current round. The new round, which makes Swiggy’s total raise-to-date to $2 billion, values it over $3.6 billion.

The announcement follows Swiggy’s expansion to grocery category last week. The startup, which is operational in 520 cities, is offering grocery in select cities in India as the nation grapples with a lockdown.

More to follow…



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