The balance amount is expected to be infused by other existing investors. Swiggy has also expanded its offerings, including Swiggy Stores, its hyper-local delivery service of grocery and fresh produce, and Swiggy Daily for home-cooked meal subscription. The fresh funds will be used to expanding its footprint in new regions and strengthen the two new platforms, Swiggy Stores and Swiggy Daily. According to industry estimates, Swiggy clocks 900,000-1 million daily orders, and burns close to $40 million every month. Some of Swiggy’s existing investors include DST Global, China’s Meituan Dianping and Coatue Management.

Source: Mint August 01, 2019 16:41 UTC