With the launch and growth of multiple services in the past year, Swiggy is leading the hyperlocal delivery market in the country.
Food delivery major Swiggy has closed a $1.25-billion fundraise, marking the first investment in the category by SoftBank Vision Fund 2. This takes the valuation of the Bengaluru-based startup up by more than 50 per cent to $5.5 billion from $3.6 billion earlier, according to industry sources.
Swiggy’s long-term investor Prosus has also participated in the current round along with others such as Accel Partners and Wellington Management. In addition, it has attracted new investors Qatar Investment Authority, Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think Investments and Carmignac.
This fundraise is expected to give enough firepower to Swiggy to counter
First Published: Jul 20 2021 | 1:27 PM IST