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.
Happiness in a state depends on many factors like good health, strong communities, clean surroundings,…
South America is a continent full of natural beauty, cultural diversity, and valuable resources. While…
India Gate is one of the most iconic landmarks in New Delhi, built as a…
India celebrates Independence Day every year on August 15, with the Prime Minister addressing the…
India celebrates its Independence Day on August 15th, marking a proud moment to reflect on…
India’s struggle for independence was shaped by the courage and sacrifices of countless individuals, many…