Food ordering startup Swiggy has raised $15 million (Rs 99.79 crore approximately) from Bessemer Venture Partners and other investors in a fourth round of funding, reported PTI. Company officials said the money will be used to upgrade its technology, add more restaurants to its list and improve their delivery system.
Vishal Gupta, managing director at Bessemer Venture Partners, told Money Control that they were interested in partnering with Swiggy. He said, "Swiggy's full stack approach coupled with great execution has resulted in unparalleled customer experience, retention and business economics." Bessemer Venture Partners is a global venture capital firm based out of the United States.
In January, Swiggy had pooled in $35 million (Rs 232 crore approximately) from existing and new investors. Co-founder and Chief Executive Officer Sriharsha Majety said, "Our vision is to change the way India eats and we want to be the top-of-mind recall for the users for all their four meals a day."
Apart from raising money, the company has restructured its top brass, with hiring several people to head various sections, such as human resource, product, finance, marketing and design. A company official said, "Their expertise will be instrumental in shaping the strategy and ensuring Swiggy's leadership position in a fast-growing category."