Malayali-run company receives Rs 862 cr as funding from Amazon Smbhav Venture

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Shan Kadavil and Mathew Joseph / Photo: Mathrubumi

Malayali-run food delivery service company has received funding from Amazon’s venture capital hand Amazon Smbhav Venture.

The company founded by Malayalis Shan Kadavil and Mathew Joseph received $104 million during the 'Series D’ funding round happened in Bengaluru.

Existing investors Iron Pillar, Investcorp, Investment Corporation of Dubai, and Ascent Capital, among others, too took part in ‘Series D’ round. Similarly, new investors like E20 Investment Ltd, Mount Judi Ventures, and Dallah Albaraka participated in the funding round.

The fund will be utilised for diversification projects and techological innovations in the company, informed Mathew Joseph.

Started in 2015, the company by now have received funding amounting to Rs 1,920 crore approximately.

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