Online food delivery platform Swiggy has raised an additional $43 million as part of its ongoing Series I round to further develop and expand its new businesses.
Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets participated in the latest funding round.
This comes roughly 45 days after the food ordering firm raised $113 million led by South African internet giant Naspers, along with Hadley Harbour Master Investments and Meituan Dianping. The latest investment takes Swiggy’s total round size to $156 million, valuing the company at over $3.6 billion.
“Our focus remains to execute on our vision while building a sustainable path to profitability,” Rahul Bothra, Chief financial officer at Swiggy, said in a statement.
The company said it will use these funds to further expand its new businesses and continue to invest in grocery delivery, concierge services, and micro-delivery arm SuprDaily.
Its rival Zomato had last week raised $5 million from Pacific Horizon Investment Trust, a fund managed by British investment manager Baillie Gifford. In February, Ant Financial, an affiliate of Alibaba as well as the largest institutional stakeholder in Zomato, led a $150 million funding round in the company at a pre-money valuation of $3 billion, according to a filing with the Bombay Stock Exchange made by InfoEdge.
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