Swiggy

The food delivery platform said that the fresh investment will further accelerate its multi-year strategy of growing its core food delivery business and building new food and non-food adjacencies in 2021 and beyond, as it expects the total addressable market for convenience to grow to 500 million users in the next decade.

It said Zomato and Swiggy are forcing restaurant partners to give discounts on their platforms to maintain good visibility on the platform. They have shifted the entire cost burden to the restaurants. On July 1, the National Restaurant Association of India (NRAI) filed information with the Competition Commission of India highlighting the inherently anti-competitive practices of Zomato and Swiggy.

"Keeping the interest of restaurants in India in mind and how they have been affected by the inherently anti-competitive practices of Zomato and Swiggy, the NRAI on July 1 filed an information with the CCI highlighting the following practices by Zomato and Swiggy, which have an appreciable adverse effect on competition," the industry body said in a statement on Monday.

According to an internal memo sent by company founder Sriharsha Majety to employees on Monday and seen by IANS, existing investors Accel and Prosus will also participate in the series J round of funding. Singapore-based GIC Private Ltd and the Qatar Investment Authority (QIA) are also likely to participate in the ongoing funding round at a later stage, people aware of the deal revealed.