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Food delivery platform Swiggy on Monday said it has raised $700 million led by Invesco, which will be utilised to double down efforts on its quick-commerce grocery service Instamart
Food delivery platform Swiggy on Monday said it has raised $700 million led by Invesco, which will be utilised to...
Food delivery platform Swiggy on Monday said it has raised $700 million led by Invesco, which will be utilised to scale its overall business along with giving a boost to its quick-commerce grocery service Instamart.
With this funding, Swiggy also surpassed the valuation of its closest rival Zomato that saw its stock hammered and closing at Rs 90.95 on Monday, shrinking its market cap to below $10 billion.
Six months after raising $1.25bn, the new fundraiser also sees increased participation of institutional investors from India and across the globe