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Swiggy Raises $1 Billion; Valuation Jumps Five-fold Since February | Business Standard News

by business-standard.com posted 3months ago 23 views
Swiggy plans to use the capital to grow its supply chain, apart from investing in new initiatives. : India’s largest online food-ordering service, Swiggy, has raised a mammoth $1 billion in fresh funding led by South African internet and media conglomerate Naspers, pulling its valuation up to $3.3 billion. This represents a fivefold increase in the company’s valuation since the start of 2018. The latest round is also the single-largest investment in India’s fast-growing food-tech sector, where Swiggy is engaged in an intense battle with rivals such as Zomato, FoodPanda and UberEats.

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