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

Second funding for food delivery startup in as many weeks


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 Inc’s India unit, which recently unveiled its service to Prime members in dozens of zip codes in the city of Bengaluru.

Also Read

Swiggy is closing $800-mn fundraising round, CEO informs employees

SoftBank's Masayoshi Son eyes bringing Coupang services to Japan

Zomato's Goyal takes a dig at Swiggy; Mumbai clarifies rules on delivery

Zomato and Swiggy leading food delivery race in the country: Report

Exclusive: Goldman money funds' liquidity buffer swells before US election

Robotics firm Miko raises Rs 50 cr to fund product, geographical expansion

Meet Harsha Bhogle, cricket commentator who doubles up as startup investor

Local kirana shops embrace retail tech as Covid-19 puts focus on essentials

6 start-ups join unicorn club this week; 150 likely by 2025, say experts

Mohalla Tech, Gupshup become latest entrants to the unicorn club

First Published: Apr 16 2021 | 1:40 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to