It took SoftBank several years, but the Japanese investment giant is now ready to bet on India’s food delivery market. Swiggy said on Tuesday it has closed a $1.25 billion financing round led by SoftBank Vision Fund 2 and Prosus.
Masayoshi Son-led SoftBank Vision Fund II has invested $450 million in food delivery platform Swiggy (Bundl Technologies Private Limited) leading the company’s massive $1.25 billion Series J round of fundraising, with India’s antitrust watchdog, the Competition Commission having greenlit the transaction a few days ago. It is expected that this investment will see Swiggy’s valuation soar to nearly $5.5 billion.
Rajaram Legal advised
Khaitan & Co acted for
Shardul Amarchand Mangaldas advised long-time client
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click ‘Report to LI’ below the comment and we will review it as soon as practicable.