Founded in August 2014, Swiggy bootstrapped till January 2015. The Bangalore-based #startup raised US$35 million in January, then helping turn the tide in an otherwise dismal sector.
The fresh funds will be used to prop up Swiggy’s hiring, improve customer experience, as well as get more restaurants on its platform, the company said.
The startup also has plans to experiment with getting into the high margin world of in-house cooking. If successful, that would make it more than an aggregator, and rival cloud kitchens.
Swiggy is currently in eight cities and claims to have over 9,000 restaurant partners on its platform. Delhi-based Zomato, which started off as a restaurant discovery site, claims to have over 1 million restaurants globally, and is operational in 23 countries across the world, including the UAE, New Zealand, and Australia.
Zomato has, however, been struggling with some missteps as the once-unicorn chased international dominance, making its core business suffer. Zomato has since said it has shifted focus to bettering its app and core platform.