Riding out the Maha lockdown
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This feels so 2020.
Maharashtra is once again in lockdown, albeit partially, and the threat to businesses looms large in India’s richest state. But this time, e-commerce firms know better. There are learnings from last year. For restaurants, however, this better not be a death knell, for deliveries too are curtailed.
Also in today’s newsletter: Swiggy, Meesho raise funds Facebook data breach, again
Maha lockdown. Ecomm unlocked
Lockdown 2021: In a notification issued Sunday. the state government announced a partial lockdown, night curfew and shutdown of malls, multiplexes, restaurants and bars to curb the steep spike in Covid-19 cases. Delivery and supply chain staff of e-commerce firms must either be vaccinated or carry a negative RT-PCR test report that would be valid for 15 days, starting April 10.
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.
Swiggy gets $800 million at $5 billion valuation
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Swiggy gets $800 million at $5 billion valuation
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GURGAON/BENGALURU: Swiggy has raised $800 million from a set of new investors including Falcon Edge, Goldman Sachs, Amansa Capital, Think Investments, and Carmignac, according to an internal email sent by company co-founder and CEO Sriharsha Majety.
The online food delivery major is now valued at $5 billion, post this investment, according to a person aware of the matter.
In the note, reviewed by TOI, Majety said Swiggy’s existing investor Prosus Ventures (previously Naspers) and Accel Partners have also participated in the latest financing round, which was heavily oversubscribed .
India s Swiggy nears $5 billion valuation in new $800 million fundraise yahoo.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from yahoo.com Daily Mail and Mail on Sunday newspapers.