DST Global | Pixr8 News

23Jun By Gauri SinghNo Comments

FUNDING

News of the Day: Funding News Of The Week (18th-23rd June)

This week was quite eventful in terms of funding activities. Few of the well-known firms raised a substantial amount of funds from different investors. So, here you can have a glimpse of the major funding activities that took place this week starting from 18th June 2018 to 23rd June 2018. The recap of funding for the week is as follows: 1) Swiggy Food Delivery Platform Swiggy sealed its much awaited $210 million funding with Russian billionaire Yuri Milner’s’ DST Global thereby finally making entry into the prestigious “Unicorn” club. The total capital of the company crossed $466 million followed by this round. Swiggy will be using the freshly raised capital in revamping its supply chain network and expanding to new markets. With an expected market valuation of $1.2 billion, ...

Swiggy Beats Zomato In Terms Of Market Valuation

22Jun By Gauri SinghNo Comments

BUSINESS

Swiggy Beats Zomato In Terms Of Market Valuation

The war between food delivery companies is at the peak from the past few days and is expected to continue for a longer time. The companies are continuing to bag in big capital flows with Swiggy being the recent one to join the league. According to the past news that we all know about Swiggy-Zomato war, with the investment of $210 million in its latest round of funding, Swiggy has reached the market valuation of $1.3 billion and has got the tag of Unicorn. Along with this, the big news is that company has exceeded Zomato in the market valuation of $1.1 billion after a $200 million funding round from Chinese online retailer Alibaba’s payment affiliate Ant Financial. Therefore, Swiggy is now leading the food delivery ecosystem. “With this investment, we will continue to widen Swiggy’s off...

Swiggy turns “Unicorn”, Raises $210 Mn from DST Global

21Jun By Lavina TolaniNo Comments

FUNDING

Swiggy turns “Unicorn”, Raises $210 Mn from DST Global

Food Delivery Platform Swiggy has sealed its much awaited $210 million funding with Russian billionaire Yuri Milner's' DST Global thereby finally making entry into the prestigious "Unicorn" club. The company has informed that the investment round also saw participation from hedge fund Coatue and existing backer Meituan Dianping, with a total capital crossing $466 million including this round. Swiggy will be using the freshly raised capital in revamping its supply chain network and expanding to new markets. With an expected market valuation of $1.2 billion, the food delivery startup is ready to beef a war with Ant Financial-backed Zomato and new rivals like Ubereats and Ola-owned Foodpanda. Sriharsha Majety, CEO of Swiggy, in a statement, said, We’re thrilled to have grown the onl...

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

20Jun By Lavina TolaniNo Comments

ANALYSIS

Zomato vs Swiggy- The Much Heated ‘Unicorn’ Battle over $2.5 Bn Worth Foodtech Industry

It's just been three months when Food Delivery Platform Zomato raised $200 Mn from Ant Financials and now it is gearing to raise fresh $200 Mn from Alibaba. Interestingly, Zomato's arch-rival Swiggy is too nearing to acquire unicorn status as it is reportedly raising $200 million from Yuri Milner’s DST Global. While Swiggy has declined to reveal any information regarding its proposed funding, Zomato too has chosen to remain tightlipped. However, one thing is confirmed that with players eyeing a big chunk of the pie, the Indian food tech industry is surely going to witness a heated battle in the times ahead. This year has been really eventful for food tech where in March, Swiggy raised $100 million from Naspers, while Zomato raised $200 million from Ant Financials in February. Whil...

Food Delivery Startup Swiggy Is Eyeing to Raise $250 Mn

15May By Lavina TolaniNo Comments

News

Food Delivery Startup Swiggy Is Eyeing to Raise $250 Mn

Online Food Delivery Startup Swiggy is eyeing to raise $250 million instead of $150-200 Mn as speculated earlier. This development has come into play at a time when the Bengaluru headquartered company is seeing intense investor interest that would help the firm to amp up its valuation and raise more money. Major Technology giants such as Japanese Agglomerate SoftBank, Chinese Firm Tencent, DST Global and Alibaba are currently in talks with Swiggy though, an official confirmation has not emerged until now. Earlier in February this year, the Food Startup had earlier raised a $100 (Rs 640 crore) million in a Series F round, one of its largest round so far led by Naspers. According to some sources reported by Techcircle, a person familiar with the matter said, "The only factor which i...

Bangalore Based Food Startup Swiggy Raised Rs 47 crore

10May By AnkitaNo Comments

FUNDING

Bangalore Based Food Startup Swiggy Raised Rs 47 crore

Online food ordering startup Swiggy has raised Rs 47 crore from existing investors Norwest Venture Partners, DST Global and Accel Partners. The value of Swiggy is now over Rs 865 crore or $130 million. Over the past few months, the company has also seen its order value basket size increased to Rs 375 per order. Close to 30% of these orders are cashless. Swiggy is also fulfilling close to 40,000 orders from the eight cities that it operates in including Bengaluru, Hyderabad and Delhi-NCR. The new round of funding gives the startup additional horsepower to go deeper into its core eight cities and maintain its market leadership position as it competes with other startups including Zomato and Runnr, to be formed after the merger of Roadrunnr and TinyOwl. Reddy explained that the compa...