HomeStartup NewsSwiggy in talks to raise about Rs 5,175 crore in latest round of funding, says report

Swiggy in talks to raise about Rs 5,175 crore in latest round of funding, says report

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.

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By CNBC-TV18 August 2, 2019, 10:22:51 AM IST (Published)

Swiggy in talks to raise about Rs 5,175 crore in latest round of funding, says report
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.
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