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Dec 082020
 

Can you guess the time in CIA's photo challenge? - Seats Limited to 100 Only (First Come First Serve). CAIT Seeks Probe Into Chinese Investors Of Zomato, Paytm, BYJU’S, Swiggy Among 141 Indian Startups. (Photographer: Dhiraj Singh/Bloomberg) Food ordering platform Swiggy on Monday announced a secondary liquidity programme for its employees who were part of the employee … Menlo Park-based hedge fund Coatue PE owns 3.6% and Hadley Harbor has 2.95% ownership in the Majety-led firm. Earlier this year, Swiggy raised $113 million from investors including China’s Meituan Dianping. While the three founders together hold a little over 10% of Swiggy, the company’s biggest backer Naspers commands a whopping 40% stake in the company. Hillhouse Capital Group invests globally, with a particular focus on Asia. Sriharsha Majety, on the other hand, remains the biggest stakeholder amongst the three founders with a 5.54% equity in the company. It currently … The current round of funding is its largest round yet. Fosun's investments include logistics firm Delhivery, payments startup Dot and social vernacular platform Headfone. Other investors in the company include Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. Chinese investors have come in the form of both corporates such as Alibaba and Tencent and pure-play investment firms such as Shunwei Capital and Hillhouse Capital. His departure wasn’t expected and surprised the ecosystem. All three of the investors mentioned above have not participated in any equity funding round after Series E. Israeli-Russian billionaire Yuri Milner’s personal investment vehicle Apoletto Asia controls 1.57% while DST Global, with a 6.17% equity in Swiggy has its shares valued at Rs 1,438.5 crore ($192 million). Till date, Swiggy has raised Rs 1,125 crore in the ongoing Series I round. In the upcoming investment, Swiggy’s early investors could sell some of their shares in the company. Online food delivery platform Swiggy has raised $100 million (approx Rs 642 crore) in series F funding, led by global internet group and technology investor Naspers and China’s e-commerce platform Meituan-Dianping. Tencent Holdings joined Naspers in a US$1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in China’s largest social media and gaming company. The company's platform lists local restaurants and menu lists on an app for users to order from and track delivery of its delivery executives, enabling users to … Swiggy’s valuation has been largely flat from its previous $1 billion round in December 2018, which, too, was led by Naspers, along with China’s Tencent, Hillhouse Capital, and Wellington Management. Meituan-Dianping is a new investor in Swiggy. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 … Majety, the chief executive and face of the company, holds 54,690 equity shares valued at Rs 1291.4 crore ($172.2 million), per the calculation based on the filings. Foodtech major Swiggy has added $43 million more in its ongoing Series I round led by Chinese tech giant Tencent. He held the lowest stake amongst all three co-founders of the firm with 19,690 equity shares on a fully diluted basis, valuing it at nearly Rs 465 crore ($62 million) per Swiggy’s latest equity funding round. Ever since the coronavirus pandemic, which originated in Wuhan in China, gripped the world, there is a major global movement to ban China-made products and services. Swiggy received $100 million from China-based Meituan-Dianping and Naspers in 2018 and a string of investments boosted the company's valuation to over a $1 billion. Swiggy General Information Description. Early backers such as Accel India, SAIF Partners and Norwest Venture Partners hold 7.6%, 6.86% and 5.94% equity respectively in the Bengaluru-based firm. Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. Tencent is another aggressive investor in the Indian startup ecosystem. A food delivery rider for Swiggy, operated by Bundl Technologies Pvt., sits on a motorcycle in Mumbai, India, on Monday, Feb. 3, 2020. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. Other investors like Meituan Dianping from China and Wellington Management Company from the U.S participated in this funding round. Connect with him on [email protected], Gaurav is the Research Lead @ Entrackr and overlooks money trails and financial data as part of the Fintrackr Team. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars. Swiggy was founded in 2014 and has its corporate headquarters in Bengaluru, India. As part of its long-term strategy of solving for existing supply gaps in the marketplace, Swiggy will also make investments in its new supply business line,” the company said. Click here to join our channel (@indianexpress) and stay updated with the latest headlines. Founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014, … Jaimini exited Swiggy after a six-year-long stint to join Pesto Tech, a career accelerator. However, a massive drop in the volumes in the aftermath of Covid-19 pandemic induced-lockdown and entry of Amazon in food delivery space earlier rattled the Chinese investors … The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. The Indian Express is now on Telegram. Connect with him at [email protected], Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >. Accel’s stake is valued at about Rs Rs 1,771.2 crore ($236 million) while SAIF’s shares amounted to Rs 1,600 crore ($213.23 million). Our team members are sector experts in consumer, Internet, media, and healthcare. 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The company's food delivery platform lists local restaurants and menu lists on an app for users to order from and track delivery of its delivery executives, enabling users to order food with speed … New investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have also participated in the round. Swiggy says its revenue has increased 500 per cent in the last financial year and its order volumes have nearly double since its previous funding in May 2017. Food delivery startup Swiggy has just raised $1 billion in its series H funding from the existing as well as new investors. A host of prominent Indian startups including online grocer BigBasket, e-tailer Snapdeal and food delivery firm Swiggy have raised money from Chinese investors. Naspers has also invested into the parent company of Swiggy’s rival foodpanda, Delivery Hero. Rahul Jaimini, one of the co-founders of Swiggy who hung his boot at the foodtech major earlier this month, holds a 2% stake in the company according to regulatory filings. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Online food delivery platform Swiggy has raised $100 million (approx Rs 642 crore) in series F funding, led by global internet group and technology investor Naspers and China’s e-commerce platform Meituan-Dianping. Swiggy designs an on-demand food delivery platform that brings food from neighborhood restaurants directly to users' doors. Meituan-Dianping is a new investor in Swiggy. Independent, proprietary research lies at the heart of our investment process. Fintrackr’s calculation shows that the South African conglomerate’s shares amount to Rs 9320.5 crore ($1.24 billion) after the latest Series I round. Hillhouse Capital Group was founded in 2005 and is based in Beijing, China. New Delhi: The investors in food delivery platforms Swiggy and Zomato have proposed the idea of a merger between the two as losses had continued to mount even before Covid-19 pain set in, ET Now has learnt. National Crush of India 2020 Rashmika Mandanna does this agility exercise with ease; can you? Bengaluru-based food delivery major Swiggy has raised INR 264 Cr in its Series I funding round led by Chinese internet giant Tencent. China's Tencent Holdings in talks with global firms to invest in food delivery platform Swiggy The latest investment, if finalised, will value Swiggy at $2.5-3 billion and will mark the online foods delivery platform's third … Chinese investors have pumped in an estimated $4 billion into India’s tech startups which includes bets on 18 out of the country’s 30 unicorns. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. According to a TechCrunch report, the valuation of Swiggy is a staggering US$3.6 billion. Click edit button to change this text. Those firms include 70 listed companies and over 160 are valued at more than $1 billion, according a speech made by Tencent President … Chineses internet giant Tencent also holds a 5.89% stake in the company through its Netherlands-based subsidiary Tencent Cloud Europe B.V, which was valued at $184 million after an infusion of the last tranche in the company. Chinese tech giant Tencent Holdings said it will step up its investment overseas and in industries such as "smart retail", having already invested in more than 800 companies. His ownership is valued at Rs 583 crore ($77.73 million). 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Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. Swiggy. For Swiggy, which counts Meituan Dianping as an investor, other business lines like concierge and grocery delivery services are … Jai Vardhan is co-founder and CEO at Entrackr. China’s love for Indian startups can be gauged by the increased investments which rose from a mere $459 million in 2016 to around $3.9 billion in 2019. Entrackr had exclusively reported the secondary transaction in January. The same trend has played out in China, where Meituan Dianping - the country’s largest food delivery service saw sales from food business drop by half, in February, as per the company. He has been writing about startups and digital economy for nine years. The round, which keeps Swiggy’s valuation at over $1 billion, saw investments secured from China’s Tencent, Hillhouse Capital, and Wellington Management too. 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The third co-founder, Nandan Reddy, commands a 2.5% stake consisting of 24,690 equity shares of the company. The Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. In the last five rounds of funding, Swiggy had raised $155.5 million. “With this funding, we will further invest in building differentiated offerings, plugging the white spaces in the ecosystem, and developing our technology while keeping superlative customer experience at the core,” Swiggy CEO Sriharsha Majety said. It’s worth noting that SAIF, Accel, Norwest, RB Investments, Harmony Capital and Bessemer Venture Partners had collectively raked in $222 million (Rs 1579.2 crore) as their shares were transferred to late-stage investors Naspers, Inspired Elite Investments, DST Euro Asia and Coatue PE Asia. All three of the investors mentioned above have not participated in any equity funding round after Series E. Israeli-Russian billionaire Yuri Milner’s personal investment vehicle Apoletto Asia controls 1.57% while  DST Global, with a 6.17% equity in Swiggy has its shares valued at Rs 1,438.5 crore ($192 million). The deal is the largest investment in a food delivery company outside of China, and it means Swiggy is one of the few in the billion-dollar-round club. The single largest Chinese investment in India is the $1.1 billion acquisition of Gland Pharma by Fosun in 2018. With this new funding, Swiggy said it will strengthen its market leadership position by introducing a host of unique and advanced products and services. 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