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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.
India Food Delivery Firm Swiggy Gets $800 Million in Funding
Bloomberg 2 hrs ago Saritha Rai © Bloomberg A food delivery rider for Swiggy, operated by Bundl Technologies Pvt., sits on a motorcycle in Mumbai, India, on Monday, Feb. 3, 2020. Indian Prime Minister Narendra Modi’s government plans to allow foreign investors greater access to short-term and long-term government securities in a bid to tap money being poured into passive funds operated by firms such as BlackRock Inc.
(Bloomberg)
Indian food delivery app Swiggy is closing an $800 million funding round from investors including Falcon Edge Capital LP and Goldman Sachs Group Inc., co-founder and Chief Executive Officer Sriharsha Majety said in a note to employees on Monday.