Steven Millward · · 1 min readIn brief: Swiggy unboxes $1b for food-delivery battle
Naspers, the South African ecommerce and media investor, has announced that it is leading a new US$1 billion funding round for the Indian food-delivery group Swiggy, in a major bet on the future of the sector in the rapidly growing Indian economy.
Source: Financial Times
Started in 2014, Swiggy is now India’s top meal-delivery app, covering 50,000 restaurants in 50 cities.
Tencent, which is also backed by Naspers, made its first contribution to Swiggy in this round.
Editing by Eileen C. Ang
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