Swiggy raises $700 mn in new funding round led by Invesco

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Foodstuff shipping system Swiggy on Monday introduced that it raised $700 million in a new funding spherical led by Invesco.

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The funding spherical saw participation from new investors this kind of as Baron Capital Team, Kotak, among the others.&#13
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Swiggy reported current buyers like Alpha Wave Worldwide, Qatar Investment decision Authority, Ark Effect, Prosus also participated in the spherical.

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Economic Periods documented that with the newest funding, the valuation of Swiggy stands at $10.7 billion.

Backed by the likes of SoftBank Group Corp., Swiggy is amongst a slew of Indian startups disrupting classic industries as much more customers undertaking online. It competes with fellow unicorn Zomato Ltd., which went community this calendar year in a $1.3-billion preliminary general public giving.

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