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Swiggy Looking To Secure $500 Mn from Naspers

As the competition keeps on increasing in India food sector, Swiggy the food delivery platform has now looking to secure a fresh round of capital from some of the existing investors.

Swiggy, according to the report, is in talks to secure around $500 Million from the Naspers.

Apart from Naspers, the company is also in talks with the South Korean investors, which includes the Mirae Asset Management, Neoplux, Korea Investment Partners, STIC Investments, and others.

The deal, which is as of now going to have a secondary transaction component, is also expected to value around the company at a $4 Billion valuation. It was last estimated to be valued at $3.3 billion when it closed the $1 Billion funding previous year in December.

The funding round in the month of December has also received various participants from new investors which includes the Hillhouse Capital, Chinese Conglomerate, and Wellington Management company. Apart from the Naspers, some of the existing investors who participated in the round included Meituan Dianping, Coatue Management, and DST Global.

Source: Swiggy



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