🇮🇳 Roundup: Swiggy to raise up to $700m funding, and more

Startups in the country collectively raised at least US$7.4 million today in disclosed funding from international and local investors.

Here’s a snapshot of fundraisings:

Here’s some important tech news in India today:

Ride-hailing major Ola eyes IPO in H1 2022

The company, which competes with other transportation majors such as Uber, looks to raise up to US$1 billion through its stock market debut.

This would follow other Indian companies raising a combined US$9.7 billion through listing during the first three quarters of 2021.

Bhavish Aggarwal, co-founder and CEO of Ola, said the company aims to expand the scope of its offerings and enter the super app category. This includes venturing more into financial services and insurance.

Swiggy may raise up to US$700 million from Invesco, SoftBank, others

The deal, which is expected to be completed this month, will see Invesco pouring US$200 million into the food delivery firm. The round would value Swiggy at around US$10.5 billion.

This would follow Zomato’s successful IPO, which has netted the food delivery competitor a roughly US$16 billion market capitalization. (Read: 8 takeaways from Zomato’s investor deck for its $1.3b IPO)

Swiggy also has plans to go public about a year after Zomato’s listing.

Uber enables ride bookings on WhatsApp

The move could give Uber access to the instant messaging app’s pool of over 500 million users.