Swiggy Raises USD 700 Million From Invesco, Other Investors

Meals supply platform Swiggy on Monday stated it has raised USD 700 million (practically Rs 5,225 crore) in new funding led by funding agency Invesco.

Different new traders within the spherical embrace Baron Capital Group, Sumeru Enterprise, IIFL AMC Late Stage Tech Fund, Kotak, Axis Development Avenues AIF- I, Sixteenth Avenue Capital, Ghisallo, Smile Group and Segantii Capital, Swiggy stated in a press release. Six months after elevating USD 1.25 billion, the brand new fundraise additionally sees elevated participation of institutional traders each in India and globally, it added.

Swiggy’s current traders Alpha Wave International (previously Falcon Edge Capital), Qatar Funding Authority, and ARK Impression, together with its long-term investor Prosus additionally participated within the spherical.

“This funding comes at a time when the adoption of meals and on-line grocery is accelerating and the patron demand for Swiggy’s many companies proceed to develop,” the corporate stated.

(PTI)