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Softbank Group to invest $450 million in Swiggy at $5.5 billion value

Second funding for food delivery startup in as many weeks

swiggy
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The financing from Masayoshi Son’s Vision Fund 2 awaits approval from Indian antitrust regulators

Saritha Rai | Bloomberg
SoftBank Group Corp. is investing in Swiggy at a $5.5 billion valuation, the second funding for the Indian food delivery startup in as many weeks as capital floods the world’s fastest growing internet arena.

The $450 million funding came from Masayoshi Son’s Vision Fund 2, a person familiar with the matter said. The financing awaits approval from Indian antitrust regulators, the person added, asking not to be identified talking about a private deal.

Bangalore-based Swiggy competes with multiple food delivery startups including fellow unicorn Zomato, backed by Ant Group Co. and Tiger Global, and the food delivery arm of Amazon.com Inc’s India

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