MUMBAI (NewsRise) -- Indian food delivery service Swiggy raised $210 million from South Africa's Naspers and Hong Kong-based fund DST Global, as the online company beefs up its war chest to take on Alibaba Group Holding-backed Zomato and new entrant UberEats.
"With this investment, we will continue to widen Swiggy's offerings, along with bolstering our capabilities and plugging the gaps in the on-demand delivery ecosystem," Sriharsha Majety, chief executive of Swiggy, said in a statement. The latest funding valued the company at $1 billion, according to media reports.
