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Swiggy raises $1 billion as Naspers, Tencent pour more money

Indian online food delivery company is valued at more than $3 billion

A motorcycle driver working for the food delivery company Swiggy in Bangalore. (Photo by 

MUMBI (NewsRise) -- Indian food delivery company Swiggy raised $1 billion from South Africa's Naspers and a host of Chinese Internet firms such as Tencent Holdings, underscoring the surging investor interest in the south Asian nation's booming on-demand food services market.

The latest fundraising saw participation from several existing investors such as Naspers, Hong Kong-based fund DST Global, Chinese online food delivery service Meituan Dianping, and Coatue Management, along with new investors Tencent, Hillhouse Capital, and Wellington Management, Swiggy said in a statement on Thursday.

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