Swiggy raises Rs 9,345 cr from SoftBank, Prosus

July 20, 2021 13:33

Food ordering and delivery platform Swiggy on Tuesday announced the closure of USD 1.25 billion (approximately Rs 9,345 crore) funding led by SoftBank Vision Fund 2 and Prosus.

As per sources, the closure of this round pegs the valuation of the company at USD 5.5 billion (around Rs 41,125 crore).

This comes on the heels of the closure of competitor Zomato's mega initial public offering (IPO) which gives Zomato a valuation of Rs 64,365 crore.

The funding marks the first investment in the Indian food delivery category by SoftBank Vision Fund 2, with participation from the company's long-term investor, Prosus, and other existing investors Accel Partners and Wellington Management, Swiggy said in a statement.

This latest fundraising was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impact of Covid-19 and subsequent growth in 2020-21, it added.

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