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Deepti Sri · · 1 min readReport: Food delivery major Swiggy to raise $800m from Goldman Sachs, others
“Indian foodtech major Swiggy is in the final stages to close US$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,” Livemint reported, citing an internal memo sent by founder Sriharsha Majety to employees.
Details:
- After the transaction, Swiggy could be valued at over US$4.9 billion, up from its previous valuation of US$3.6 billion in 2020.
- Investors including Singapore-based GIC and Qatar Investment Authority are also expected to participate in the financing round at a later stage among multiple tranches, pushing the overall investment in Swiggy to about US$1 billion.
Context:
- Existing investors Accel Partners and Prosus Ventures will also join the financing round.
- In April 2020, Swiggy raised US$43 million as part of its series I fundraise from Tencent, Korea Investment Partners, and Samsung Ventures, among others.
Editing by Collin Furtado
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