your password has been reset successfully, Please login again.

Swiggy Plans to Raise Funds INR 1,393 Crore from PE firm, Carlyle

The food delivery company, Swiggy is in discussions to raise nearly INR 1,393 Crore for the US-based PE company, Carlyle .
BY BEx Bureau
BusinessEx
Jun 19, 2019

The Indian food delivery company, Swiggy is in discussions to raise nearly INR 1,393 Crore for the US-based PE company, Carlyle at a company valuation of $4.5 million, according to a media report.

Swiggy plans to use the money to grow its delivery fleet, expand beyond food to other segments and grow its hyperlocal offerings, people who were aware of the matter told the daily news, Mint.

In December 2018, Swiggy raised funds up to $1 billion from investment companies; the funding round was led by the existing financial backer, Naspers. Further, the Chinese company, Tencent had partaken in the funding round wherein Swiggy was priced roughly $3.3 billion.

If Carlyle invests in the food delivery company, Swiggy then it would be counted as the second investment of Carlyle in the country. Earlier on, the PE firm had invested in a logistics firm, Delhivery.

Swiggy was incorporated in 2014 and turned into a unicorn last year after crossing the threshold of $1 billion. Till now, the food delivery firm has raised $1.5 billion from numerous investment companies-- Naspers, Coatue Management, Accel, DST Global, to name a few.

Please add your Comment
SIMILAR News
November 19, 2019
Realty investor, Satish Jain via his infra firm, Amour Infrastructure has led the funding round. ...More
By Jaspreet Kaur
October 24, 2019
The company has received money at a fair market value of INR 42.51 crore and it will certainly raise ...More
By Jaspreet Kaur
October 21, 2019
Following the investment, the Tamil Nadu-based firm, Dindigul Thalappakatti is pegged at around INR ...More
By Jaspreet Kaur
October 19, 2019
Super Smelly primarily concentrates on the personal-care hygiene requirements of the millennials. ...More
By Jaspreet Kaur
September 25, 2019
Several media reports said that the PE firm should aim to collect at most $2 billion for the new fun ...More
By Jaspreet Kaur
September 20, 2019
With the tech-concentrated fund, Advent is joining a cohort of other tech-focused investors. ...More
By Jaspreet Kaur
September 20, 2019
With this investment, Tiger Global Management has entered into quick-service restaurant industry. ...More
By Jaspreet Kaur
September 17, 2019
DotPe receives funding from two investors- Fosun International and PayU. ...More
By Jaspreet Kaur
September 14, 2019
Before this, Info Edge had infused an equal sum at a higher valuation in November 2018, reaching its ...More
By Jaspreet Kaur
September 12, 2019
E-commerce firm, Marsplay and Social media company, HappyShappy have obtained an undisclosed sum of ...More
By Jaspreet Kaur
September 10, 2019
Avendus Capital worked as a financial adviser to the Chennai-based software services company, Prodap ...More
By Jaspreet Kaur
September 10, 2019
CPPIB made the investment through its Fundamental Equities Asia Group, which backs quality Asian com ...More
By Jaspreet Kaur