Home   »   Swiggy turns decacorn with valuation of...

Swiggy turns decacorn with valuation of $10.7 billion

Swiggy turns decacorn with valuation of $10.7 billion 2022_4.1

Food-ordering and instant grocery delivery platform, Swiggy has signed a $700 million funding round led by asset manager Invesco. With this, the total valuation of Swiggy has reached to $10.7 billion i.e. it is now a decacorn. A decacorn is a startup with a valuation of more than $10 billion. Swiggy’s latest valuation is almost double that of Zomato before the latter went for its initial public offering. Zomato was valued at $5.4 billion before its IPO.

Buy Prime Test Series for all Banking, SSC, Insurance & other exams

Bengaluru-based Swiggy has overtaken budget hospitality company Oyo, whose valuation dropped to $8 billion in 2020 from $10 billion in 2019, and then increased to $9 billion in 2021. Swiggy has overtaken sports technology company Dream Sports, the parent firm of fantasy sports platform Dream11. This investment in Swiggy comes at a time when the adoption of food and online grocery is accelerating and consumer demand for Swiggy’s many services continues to grow.

Find More Business News Here

Swiggy turns decacorn with valuation of $10.7 billion 2022_5.1

Microsoft to acquire video gaming company Activision Blizzard_90.1

Leave a comment

Your email address will not be published. Required fields are marked *