Money Makers Mentor

Swiggy reaches US$5.5B valuation – The Buttonwood Tree

On Tuesday, Swiggy closed its funding round after having raised US$1.25 billion. It reached a valuation of US$5.5 billion. This funding round was led by their long-term investor Prosus, SoftBank Vision Fund 2 along with existing investors, like Accel Partners and Wellington Management. This funding round comes around the same time its rival Zomato, closed its IPO that was subscribed over 38 times.

Swiggy was founded in 2014 by Sriharsha Majety, Nandan Reddy and Rahul Jaimini. They initially began their journey around the idea of serving ice-cream. It eventually evolved to delivering food. Swiggy has since seen immense growth. It is currently one of India’s top online food ordering and delivering platforms. It offers in-app features like live order tracking, lightning-fast delivery and …

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