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...