Food aggregator Swiggy is likely in advanced talks with existing investor Naspers to close a funding deal of $700 million - $750 million (about Rs 5,175 crore), Mint
reported citing sources familiar with the development.
As per the sources, Naspers may pump around $350 million, while a consortium of Korean investors, including STIC Investments and Korea Omega Investment, will invest $50 million, the report said, adding that the balance amount will be infused by the existing investors.
“A total commitment of $540 million has come so far," one of the sources in the know told Mint.
The latest round of funding will value the online food platform at around $4 billion, a second source told Mint. Once the transaction is completed, the startup's valuation will surge four times since June 2018, when it first raised $210 million to gain the status of a 'unicorn' startup, it further added.
reported citing sources familiar with the development.
As per the sources, Naspers may pump around $350 million, while a consortium of Korean investors, including STIC Investments and Korea Omega Investment, will invest $50 million, the report said, adding that the balance amount will be infused by the existing investors.
“A total commitment of $540 million has come so far," one of the sources in the know told Mint.
The latest round of funding will value the online food platform at around $4 billion, a second source told Mint. Once the transaction is completed, the startup's valuation will surge four times since June 2018, when it first raised $210 million to gain the status of a 'unicorn' startup, it further added.
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