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Swiggy simply delivered on its promise and rode out the food tech storm in India

The sunny side appears up again in the Indian food tech sector.

After a year of layoffs, downsizing, and even shuttering of businesses, food tech startups are back to receiving funding and planning expansions. On May 19, FoodPanda’s parent company Delivery Hero raised $431.45 million. On May 30, Bengaluru-based Swiggy raised $80 million from South African firm Naspers in a Series-E round.

With this, the amount that Swiggy has raised since its launch in 2014 has touched $155 million, while its larger rival Zomato has raised $243 million over nine years, according to data on Crunchbase.

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