In its fourth strategic round of funding (Series D), food ordering and delivery platform Swiggy has said that it has raised $15 million. The funding comes from Bessemer Venture Partners, with existing investors also participating. The freshly raised funds are expected to fuel Swiggy’s next growth phase, with an improved customer experience. This will include technology upgrades, a wider spread of restaurants to choose from, and better delivery efficiency, Swiggy said in a statement. This comes close on the heels of the $35 million it had raised in January 2016 from existing and new investors, including New York-based Harmony Partners and Singapore-based RB. Also Read - Top 5 free Android apps on Google Play store this week
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With this latest round of funding, the company has now raised $75.5 million in all, Swiggy said. “Our strong growth in the last few months shows that our customers are increasingly becoming accustomed to a new behavior of ordering food for the experience, rather than only for convenience. 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,” Sriharsha Majety, co-founder and CEO, Swiggy said. In the months to follow, Swiggy will continue to focus on consolidation and capturing a larger share of the market under the guidance of the new executives. Also Read - 10 most downloaded mobile apps in 2021 so far: TikTok, Facebook, WhatsApp, more
To spearhead the next phase of growth, Swiggy has recently reorganized its senior leadership by hiring vice presidents across various functions like marketing, product, HR, design and Finance. Their expertise will be instrumental in shaping the strategy and ensuring Swiggy’s “leadership position in a fast growing category,” it said.