Swiggy announced today it has closed a $1.25 billion round led by SoftBank Vision Fund 2 and its long term investor Prosus.
The food tech startup earlier raised $800 million in April, it has topped the round with another $450 million. This marks SoftBank’s first investment in the Indian foodtech sector. Last week, the Japan-based investor had received approval from the Competition Commission of India to invest in foodtech platform.
Swiggy the new fund raising star Series J fundraise was led by SoftBank Vision Fund 2, and its long-term investor, Prosus
Accel Partners, Wellington Management, Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac also participated in the round.
“Our biggest investments will be in our non-food businesses that have witnessed tremendous consumer love and growth in a short span, especially in the past 15 months of the pandemic,” said Sriharsha Majety, CEO, Swiggy.
Swiggy has also launched several services such as instant grocery delivery service, Instamart, pick-up and drop service, Swiggy Genie and daily grocery delivery service, Supr Daily. While Supr Daily is present across major cities, Swiggy Genies was recently expanded to 65 cities in the country.
The announcement has come on the heels of the reshuffle at Swiggy’s top management. Last month, Vivek Sunder, chief operating officer or the COO had put in his papers. Soon after his resignation, Swiggy also elevated Phani Kishan to a co-founder role.
