Ecommerce, Investments

Food Ordering and Delivery App Swiggy Raises $15M from Norwest Venture Partners

Image Source: Swiggy

Image Source: Swiggy

After raising $2 million from Accel and SAIF Partners earlier last month, Bengaluru-based food ordering and delivery app, Swiggy has now raised $15 million from Norwest Venture Partners.

The company is operating only in select areas of Bengaluru with plans of covering the entire city in coming two months time. It also launched its operations in Gurgaon and is looking forward to expand to Hyderabad, Mumbai, Pune and NCR Region, as reported by ET.

In August the startup will complete one year and by then it plans to target over 10,000 orders a day. “We are doing more than 1,500 orders a day but are still able to meet only 70% of the demand,” said Swiggy Founder Majety. The app accepts orders from users and has a delivery fleet who picks-up the food from restaurants and delivers it to customers doorstep. User can pay for their order with cash on delivery or online for all its partner restaurants.

Also Read: Rise of Online Food Ordering Startups in India: Opportunities, Challenges and Innovations

Startups in food segment are witnessing a surge of growth with many new joining the race and almost every second day there is an investment news. Other players in the same field who recently raised a funding are Yumist, Frsh and Holachef who were in news for generating funding from early stage funds. Bite Club also raised a funding of Rs.3 crore from Powai lake Ventures and others in March 2015. Recently GSF founder Rajesh Sawhney launched an online food startup Innerchef during April 2015, an another addition to the food segment.

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