SoftBank in talks to invest around $450M in Swiggy; valuation to rise to $5B

Posted on April 17, 2021

The food delivery startup had earlier announced an investment of $800 million (around Rs 5,862 crore) by Falcon Edge Capital, Amansa Capital, Think Investments, Carmignac, and Goldman Sach. The likely deal was announced in an email sent by the startup’s co-founder and CEO Sriharsha Majety to employees earlier in April.

The proposed investment comes at a time when rival food ordering platform Zomato is planning to go for an initial public offering (IPO) during the year.

An email sent to Swiggy spokesperson remained unanswered at the time of filing this story, PTI reported.

SoftBank in talks to invest around $450M in Swiggy; valuation to rise to $5B