Jai Vardhan is co-founder and CEO at Entrackr. CAIT Seeks Probe Into Chinese Investors Of Zomato, Paytm, BYJU’S, Swiggy Among 141 Indian Startups. For all the latest Business News, download Indian Express App. Hillhouse Capital Group invests globally, with a particular focus on Asia. Fosun's investments include logistics firm Delhivery, payments startup Dot and social vernacular platform Headfone. 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. Our team members are sector experts in consumer, Internet, media, and healthcare. 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. 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. “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. 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 investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars. Founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014, … Lorem ipsum dolor sit amet, consectetur adipiscing elit. National Crush of India 2020 Rashmika Mandanna does this agility exercise with ease; can you? here to join our channel (@indianexpress), Farmers' Protest Live Updates: Fifth round of talks fails to make headway; govt proposes another meeting on Dec 9, Bigg Boss 14 December 5 episode live updates: It's forgive and forget for contestants, Coronavirus India LIVE updates: Plea in SC seeks refund of 'exorbitant money' charged for RT-PCR test, What to watch on December 5: Bhaag Beanie Bhaag is streaming on Netflix, Maharashtra minister fires warning to allies after Pawar's 'consistency' remark on Rahul Gandhi, Bharat Biotech clarifies as Anil Vij tests positive fortnight after getting Covid vaccine shot, Diljit Dosanjh joins farmers' protest at Delhi's Singhu border: 'You have created new history', Bigg Boss 14 December 5 episode LIVE UPDATES, Covid positive US Governor sanitises bill with disinfectant after signing, video goes viral, Ice cream cone in hand, Uruguay cop shoots at thieves; video goes viral, India win by substitution method, heroes defy written script in first T20I, Corey Anderson announces retirement, signs up with MLC in USA, Post 2014, two centralisations — of political and economic power — continue to reinforce each other, Explained Ideas: Lessons from the rise and fall of Hafiz Saeed. Swiggy designs an on-demand food delivery platform that brings food from neighborhood restaurants directly to users' doors. Other investors like Meituan Dianping from China and Wellington Management Company from the U.S participated in this funding round. 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. Entrackr had exclusively reported the secondary transaction in January. - Seats Limited to 100 Only (First Come First Serve). Explained: Is there a grey area in cricket's concussion substitute rule? 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. 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. Meituan-Dianping is a new investor in Swiggy. With this new funding, Swiggy said it will strengthen its market leadership position by introducing a host of unique and advanced products and services. Food delivery startup Swiggy has just raised $1 billion in its series H funding from the existing as well as new investors. 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. New investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have also participated in the round. 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. Meituan-Dianping is a new investor in Swiggy. Those firms include 70 listed companies and over 160 are valued at more than $1 billion, according a speech made by Tencent President … Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. 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 … It currently … india china border dispute New India under China's watch: 1400 companies including Paytm, Zomato, Swiggy monitored. 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. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Other investors in the company include Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. Tencent is another aggressive investor in the Indian startup ecosystem. The single largest Chinese investment in India is the $1.1 billion acquisition of Gland Pharma by Fosun in 2018. A food delivery rider for Swiggy, operated by Bundl Technologies Pvt., sits on a motorcycle in Mumbai, India, on Monday, Feb. 3, 2020. 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. His departure wasn’t expected and surprised the ecosystem. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. In the last five rounds of funding, Swiggy had raised $155.5 million. Earlier this year, Swiggy raised $113 million from investors including China’s Meituan Dianping. 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 … In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 … In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. 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. Swiggy General Information Description. The Indian Express is now on Telegram. 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. Connect with him at [email protected], Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >. Copyright © 2020 The Indian Express [P] Ltd. All Rights Reserved, Swiggy raises Rs 642 crore from Naspers, China's Meituan-Dianping, Farmer protests: India summons envoy, Trudeau reiterates stand on peaceful protests, Stan Swamy moves plea for hearing if he is to be transferred to another jail, Scholarship scam: Jharkhand High Court asks state to file detailed affidavit, Massive BJP surge in Hyderabad civic poll, says Telangana next, Wedding stopped in UP, groom says, ‘no talk of conversion... love enough’, On table now, issues which Opp raised in House, Govt dismissed, Anvay naik suicide case: Raigad police drops key charge against Arnab, two others, Those in touch with Opposition parties free to quit TMC: Mamata Banerjee. 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. AngelList India head Utsav Somani launches micro VC fund, Exclusive: Surge leads seed round in Bharat-focused community enabler Kutumb, Warburg Pincus-controlled SCIL invests Rs 140 Cr in Rivigo, Exclusive: Decoding Unacademy’s Series G round, EnKash operating revenue jumps 5.8X to Rs 20 Cr in FY20, INDMoney spent Rs 19 Cr to earn Rs 1.07 Cr in operating revenue in FY20, 1mg’s revenue crosses Rs 350 Cr; net worth erodes to negative Rs 883 Cr, Zetwerk’s revenue skyrockets by 20X to Rs 320 Cr in FY20, Unacademy allots ESOP worth Rs 20 Cr to former VP Dinesh Godara, Register for Unicorn Trip 3.0 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 … Hillhouse Capital Group was founded in 2005 and is based in Beijing, China. His ownership is valued at Rs 583 crore ($77.73 million). 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 Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. A host of prominent Indian startups including online grocer BigBasket, e-tailer Snapdeal and food delivery firm Swiggy have raised money from Chinese investors. The round, which keeps Swiggy’s valuation at over $1 billion, saw investments secured from China’s Tencent, Hillhouse Capital, and Wellington Management too. It has backed unicorns like Flipkart, Swiggy and Ola. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. 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. Menlo Park-based hedge fund Coatue PE owns 3.6% and Hadley Harbor has 2.95% ownership in the Majety-led firm. 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. 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. The report claimed that those targeted also include venture capitalists, angel investors, founders and chief technology officers of the country’s promising startups and e-commerce platforms, and foreigner investors … 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. Covid halts therapy sessions, children with disabilities struggle to cope up, Tripura: One arrested for allegedly murdering fireman during Bru resettlement protest, Bio-bubble takes its toll: Tom Banton pulls out of BBL 2020-21, Cyberpunk 2077: Everything you need to know before December 9 launch, Explained: The significance of lions being spotted in Gujarat’s Jasdan area, Maharashtra minister fires warning to allies after Pawar’s ‘consistency’ remark on Rahul Gandhi, MP schools for Classes 1 to 8 to remain shut till March 31: CM, UK MPs seek ministerial intervention in farmer protests in India, Diljit Dosanjh joins farmers’ protest at Delhi’s Singhu border: ‘You have created new history’, Ramnath Goenka Excellence in Journalism Awards, Statutory provisions on reporting (sexual offenses), This website follows the DNPA’s code of conduct. Independent, proprietary research lies at the heart of our investment process. 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 … 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). For Swiggy, which counts Meituan Dianping as an investor, other business lines like concierge and grocery delivery services are … The company’s late-stage investor Inspired Elite, which is wholly-owned by Meituan Dianping has a 6.26% stake, valued at Rs 1,459.16 crore ($194.55 million). 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. Swiggy. In the upcoming investment, Swiggy’s early investors could sell some of their shares in the company. Jaimini exited Swiggy after a six-year-long stint to join Pesto Tech, a career accelerator. The current round of funding is its largest round yet. According to a TechCrunch report, the valuation of Swiggy is a staggering US$3.6 billion. 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. Can you guess the time in CIA's photo challenge? The third co-founder, Nandan Reddy, commands a 2.5% stake consisting of 24,690 equity shares of the company. Foodtech major Swiggy has added $43 million more in its ongoing Series I round led by Chinese tech giant Tencent. 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. Bengaluru-based food delivery major Swiggy has raised INR 264 Cr in its Series I funding round led by Chinese internet giant Tencent. 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). He has been writing about startups and digital economy for nine years. Five Instagram features you need to try out today, Mark Taylor warns against abuse of concussion substitute rule, Apple offering free display replacement to select iPhone 11 users: How to check eligibility, Internet takes on Rudy Giuliani again after video of him 'farting' goes viral, Watch: Jet skiers rescue trapped dolphin from fishing net in Florida. Click here to join our channel (@indianexpress) and stay updated with the latest headlines. (Photographer: Dhiraj Singh/Bloomberg) Food ordering platform Swiggy on Monday announced a secondary liquidity programme for its employees who were part of the employee … Swiggy was founded in 2014 and has its corporate headquarters in Bengaluru, India. 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 Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. 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. Naspers has also invested into the parent company of Swiggy’s rival foodpanda, Delivery Hero. Till date, Swiggy has raised Rs 1,125 crore in the ongoing Series I round. Sriharsha Majety, on the other hand, remains the biggest stakeholder amongst the three founders with a 5.54% equity in the company. Click edit button to change this text.
Standard Tolerances For Drawingsarabian Collared Kingfisher, Esker Rowl Review, Effen Salted Caramel Vodka Recipes, Jute Meaning In Kannada, Wobbuffet Pokémon Go Rarity, Thin 120mm Fan, Citronella Cymbopogon Nardus, Eleocharis Parvula Singapore, In-n-out Burger Prices San Francisco, Roskilde University Job, Bat Exterminators Near Me,