logo
logo

Indian Food Delivery Giant Swiggy Raises $700 Million At $10.7 Billion Valuation

Jan 24, 2022•over 3 years ago

Amount Raised

$700 Million

Bengaluru

Description

Swiggy, India’s top food delivery startup, has raised $700 million in a new financing round, just six months after securing $1.25 billion, as it aggressively expands its offerings including the instant-delivery service in the South Asian market.

Company Information

Company

Swiggy

Location

Bengaluru, Karnataka, India

About

That was the plan and that will be the plan," Majety told ET on Tuesday adding that the company doesn’t have a concrete timeline to go public, for now. We are committed to them and Swiggy Direct is a pilot in one such direction,” Majety said adding that the company had not received a formal notice from CCI on the NRAI complaint. Swiggy said it has raised $1.25 billion from SoftBank Vision Fund II as well as existing investors Prosus ( formerly Naspers), Accel and Wellington Management, in what is the largest funding round for the online food delivery platform since its launch in 2014. The company is now valued at $5.5 billion post the fund raise, said people aware of the details.

Funding Insights

Based on industry data
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech