Swiggy, a food delivery platform, announced on Monday that it has raised $700 million (about Rs 5,225 crore) in new capital led by investment firm Invesco.
Swiggy said in a statement that other new investors in the round include Baron Capital Group, Sumeru Venture, IIFL AMC Late Stage Tech Fund, Kotak, Axis Growth Avenues AIF- I, Sixteenth Street Capital, Ghisallo, Smile Group, and Segantii Capital.
Six months after raising $1.25 billion (approximately Rs. 9,330 crore), the latest fundraise also sees increased participation from institutional investors in India and around the world, according to the company.
Swiggy’s existing investors, Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority, and ARK Impact, as well as long-term investor Prosus, took part in the round.
“This investment comes at a time when the adoption of food and online grocery is accelerating and the consumer demand for Swiggy’s many services continue to grow,” the company said.