09 Jun '15, 1pm

Swiggy #bags funding to become Uber for food delivery in India

Swiggy #bags funding to become Uber for food delivery in India

Food ordering and delivery app Swiggy has bagged US.5 million in series B funding from Norwest Venture Partners (NVP) and existing investors SAIF Partners and Accel Partners. The company secured US million earlier this year. Swiggy accepts orders from users and has a delivery staff of 150 who pick-up the food from restaurants and deliver to customers. The app is powered by routing algorithms to create an efficient delivery system. The nine-month-old startup has presence in Bangalore, Gurgaon, and Hyderabad and is gearing up for expansion. The fresh funding will also be used for marketing. It has partnered with over 100 restaurants in each city. Swiggy is betting on their system of timely deliveries and service levels to capture the online food delivery market in India. It doesn’t have a minimum order policy on any restaurant. The company was founded by Sriharsha Majety and...

Full article: http://svca.org.sg/swiggy-bags-funding-to-become-uber-for...

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