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SoftBank Backs Food Delivery App Swiggy s $1 25 Billion Funding
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Prosus, SoftBank lead food delivery startup s funding round
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Swiggy: SoftBank Backs Food Delivery App Swiggy s $1 25 Billion Funding
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Indian regulator CCI approves Softbank’s $450m investment in Swiggy
July 13, 2021
India’s market watchdog, Competition Commission of India (CCI) has approved a $450 million investment from Japanese-conglomerate Softbank into Bundl Technologies, parent of food tech unicorn, Swiggy.
This is a part of the ongoing Series J round, which saw the likes of new investors including Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac and Goldman Sachs, invest close to $800 million in the six-year-old startup, earlier in May this year.
On Monday, CCI wrote on microblogging website Twitter, that it has approved the investment.
“The Commission approves the proposed acquisition of a certain stake in Bundl Technologies (Swiggy) by SVF II Songbird (SoftBank Group entity),” read CCI’s tweet.
Swiggy elevates Phani Kishan as cofounder
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