Deals

VC consortium back $80m Swiggy round

A group including Accel Partners and Bessemer Venture Partners participated in the Series E round in the Indian food delivery company.

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Guangzhou, China – February 22, 2012: McDonald food delivery on a motorcycle. It took McDonald 19 years to reach 1,000 restaurants in China and the company plans to double the number of its Chinese outlets to 2,000 by 2013.

Five venture firms and South African media group Naspers have backed Bangalore-based online food ordering and delivery company Swiggy in an $80 million Series E round.

Accel Partners’ India arm, SAIF Partners India, San Francisco-based Bessemer Venture Partners, New York-based Harmony Partners and Norwest Venture Partners all followed up on their previous support for the company to back its Series E round. Naspers is a new investor and led the round.

The investment brings the total raised by the company since Accel and SAIF supported its $2 million Series A in 2015 to more than $150 million according to CrunchBase.

Swiggy, which delivers food across eight Indian cities, says it will use the funds to introduce new products, double its technology headcount and increase investments across core engineering, automation, data sciences, machine learning and personalization.

Naspers has backed a number of food delivery companies including Germany’s Delivery Hero, in which it invested $425 million earlier this month.