Food delivery platform Swiggy on Monday said it has raised $700 million (nearly Rs 5,225 crore) in new funding led by investment firm Invesco.
Other new investors in the round include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group, and Segantii Capital, Swiggy said in a statement.
Six months after raising $1.25 billion (roughly Rs. 9,330 crore), the new fundraise also sees increased participation of institutional investors both in India and globally, it added.
Swiggy’s existing investors Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority, and ARK Impact, along with its long-term investor Prosus also participated in the round.
“This investment comes at a time when the adoption of food and online grocery is accelerating and the consumer demand for Swiggy’s many services continue to grow,” the company said.
Disclaimer : OneNewsTech.com is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us – firstname.lastname@example.org. The content will be deleted within 24 hours.