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Swiggy to close new USD 800 million funding round, company valuation nears USD 5 billion

Majety noted that the round gives the company a lot more firepower for investments.

Published: 06th April 2021 09:07 AM  |   Last Updated: 06th April 2021 09:07 AM   |  A+A-

A Swiggy delivery boy wears a mask on his way  to deliver food. (Photo | B P Deepu, EPS)

A Swiggy delivery boy wears a mask on his way to deliver food. (Photo | B P Deepu, EPS)

By Express News Service

NEW DELHI: Food delivery platform Swiggy is set to close a $800 million (Rs 5,860 crore) funding round with Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sach becoming new investors, an e-mail sent by its co-founder and CEO Sriharsha Majety to its employees stated. 

The deal, reports from news agencies say, pegs the valuation of the company close to $5 billion. “It gives me great pleasure to inform you all that as a part of our recent efforts, we’re closing around $800 million in financing. Some of the world’s best financial investors like Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac and Goldman Sachs, are joining us as new investors this time,” Majety said. 

Many of the company’s existing investors are also participating in the round, he added. “Over the last year, thanks to all your efforts, we’ve managed to drive a strong recovery in the food delivery business with a very clear path to profitability,” Majety said. “Overall,” he added, “between the offerings that are scaling fast now and the pipeline we have, our vision for unparalleled convenience will come to life in a very big way over the next few quarters”.

Majety noted that the round gives the company a lot more firepower for investments. “Given our unfettered ambition though, we will continue to seed new offerings for the future that may be ready for investment later,” Majety said.


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