Food delivery platform Swiggy said on Monday it had raised $700 million (nearly Rs 5,225 crore) in new financing led by investment firm Invesco.
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, Swiggy said in a statement.
Six months after raising US$1.25 billion (approximately Rs. 9,330 crore), the new fundraising also increases the participation of institutional investors in India and around the world, he added.
Existing Swiggy investors Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority and ARK Impact, along with their long-term investor Prosus, also participated in the round.
“This investment comes at a time when online food and grocery adoption is accelerating and consumer demand for Swiggy’s many services continues to grow,” the company said.