South Africa’s Naspers Invest $80 Million In Swiggy

Naspers has announced that it has invested $80 million in Swiggy, an online food ordering and delivery startup in India.

According to a press statement, the investment will significantly help to boost Swiggy’s growth plans and expansion.

Ashutosh Sharma, the head of investments in India for Naspers who will join the Swiggy board, said about the investment: “Swiggy has shown impressive growth in a highly competitive market. Naspers was attracted to the company’s exceptional execution in disrupting online food ordering and delivery in India while many players are struggling. Swiggy’s ability to create a sustainable business, earning consumer trust through a reliable first-party delivery technology, positions it well for success.”

Speaking on behalf of Swiggy, Sriharsha Majety, the co-founder and CEO of the food and delivery startup said: “In a span of three years, Swiggy has been instrumental in changing the way India eats by delivering delightful customer experiences. This investment by Naspers is further testimony to Swiggy’s vision and performance. As the market leader, we are leveraging our deep understanding of the Indian consumer and the gaps in the market to introduce disruptive and highly differentiated service offerings; making online food ordering and delivery more seamless and reliable to users everywhere”, he concluded.

Till date, Naspers has invested in, acquired or built, including Avito, Brainly, Codecademy, DeliveryHero, eMAG, Flipkart, ibibo, iFood, letgo, Media24, Movile, MultiChoice, OLX, PayU, Showmax, SimilarWeb, SinDelantal, Twiggle, and Udemy.