India's Swiggy Raises $1.25 Billion in Funding Round Led by SoftBank, Prosus
July 20 2021 - 6:27AM
Dow Jones News
By Adria Calatayud
Indian food-delivery startup Swiggy on Tuesday closed a $1.25
billion funding round led by SoftBank Vision Fund 2 and Dutch
internet conglomerate Prosus NV, the companies said.
Swiggy said new investors like Qatar Investment Authority,
Falcon Edge Capital, Amansa Capital, Goldman Sachs, Think
Investments and Carmignac participated in the fundraising, as well
as existing investors Accel Partners and Wellington Management.
The funds will help the Indian startup to accelerate investment
in its core food-delivery service and in nonfood categories, it
said.
"Our biggest investments will be in our nonfood businesses that
have witnessed tremendous consumer love and growth in a short span,
especially in the past 15 months of the pandemic," Swiggy Chief
Executive Sriharsha Majety said.
Write to Adria Calatayud at adria.calatayud@dowjones.com
(END) Dow Jones Newswires
July 20, 2021 06:16 ET (10:16 GMT)
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