Naspers and Tencent to acquire Swiggy.

Naspers, a global internet and entertainment group and Tencent, an investment holding company to invest in Swiggy, India’s largest food delivery platform. Swiggy will use the funds to bring more quality food brands closer to consumers and address gaps in supply through delivery-only kitchens under the ‘Access’ initiative for restaurant partners. Additionally, Swiggy will use the capital to hire top-notch talent, especially for machine learning and engineering roles across mid and senior levels. The company will also strengthen its technology backbone and focus on building the next-generation AI-driven platform for hyperlocal discovery and on-demand delivery. “Swiggy has been at the forefront of elevating the potential of Indian food delivery with its industry-changing innovations and focus on delivering the best consumer experience to millions of Indians. As we add more firepower to our vision of elevating the quality of life for urban consumers by offering unparalleled convenience, we’re pleased that visionary global investors share our purpose and have made such a significant investment in our future.” Sriharsha Majety, Swiggy CEO.