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Swiggy Closes $1 25 Bn Series J Funding Round At $5 5 Bn Valuation
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SoftBank s Bet On Swiggy Gets CCI Nod As Food Delivery Race Heats Up
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Indian foodtech giant Swiggy nears $800m fund raise in Series J round
Photo: Livemint
April 5, 2021
Indian foodtech major, Swiggy is in the final stages to close $800 million in funding, in its Series J round of financing, with investors Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac and Goldman Sachs joining as new investors, according to an internal memo sent by company founder Sriharsha Majety to employees.
The fundraise will likely value the foodtech firm at over $4.9 billion, a jump from its previous ascribed valuation of $3.6 billion in 2020, according to an individual aware of the fundraise talks.
The person added that sovereign funds including Singapore-based GIC Private Ltd. and Qatar Investment Authority (QIA) are also expected to participate in the ongoing round at a later stage, following which the company is expected to close the fundraise.