Swiggy wins $43 Mn in Series I round led by Tencent
By MYBRANDBOOK
The online food delivery platform, Swiggy https://www.swiggy.com/has bagged $43 million more in its ongoing Series I round led by Chinese tech giant Tencent. The new investors who have participated in the round are Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets.
As per regulatory filings, 12,972 Series I CCPS and 15 equity shares to five investors has been allocated at a price of Rs 2,36,130 per share. Tencent led the round with an investment of Rs 142.5 crore, followed by Ark Impact and Korea Investment Partners who invested Rs 71.24 crore and Rs 35.6 crore respectively.
Samsung Ventures also picked up stake worth Rs 43.1 crore along with New Delhi-based MACM India Growth, which joined the round with a contribution of Rs 14.23 crore.
Earlier the company had raised Rs 805 crore ($113 million) from Naspers, Hadley Harbour Master Investments and Meituan. The size of the round now stands at $156 million and now Swiggy has been valued at about $3.65 billion.
“As we continue to strengthen and expand our services that offer unparalleled convenience to our consumers, we are humbled by the faith shown by our investors year-on-year and welcome the new investors on board. Our focus remains to execute on our vision while building a sustainable path to profitability,” said Rahul Bothra, CFO, Swiggy.
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