Foodtech unicorn Swiggy has raised $700 million in funding led by Invesco, six months after it raised $1.25 billion. Swiggy is now valued at $10.7 billion, up from its previous $5.5 billion.
The round also saw participation from a host of new investors such as 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’s existing investors Alpha Wave Global (formerly Falcon Edge Capital), Qatar Investment Authority, and ARK Impact, along with its long-term investor Prosus also participated in the round.
This fundraise will enable Swiggy to further accelerate growth on the core platform and make meaningful investments to grow Instamart, said the company.