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Swiggy to close $800 mn funding round; valuation rises to $5 billion

Swiggy to close $800 mn funding round; valuation rises to $5 billion The deal will leapfrog Swiggy s valuation to around $5 billion from its previous valuation of $3.6 billion in 2020 BusinessToday.In | April 6, 2021 | Updated 10:07 IST The new capital will help Swiggy speed up growth in its existing businesses and also help it seed new ones Food delivery app Swiggy is in the process of closing an $800 million funding round with investors comprising Goldman Sachs and Falcon Edge Capital, Co-founder and Chief Executive Officer Sriharsha Majety said in an emailed letter to employees. The deal will leapfrog the food tech startup s valuation to around $5 billion from its previous valuation of $3.6 billion in 2020.

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