Swiggy IPO update
Swiggy, an Indian online food ordering and delivery platform, was established in 2014. With its headquarters in Bangalore, as of September 2021, Swiggy operates across over 500 cities in India. In addition to food delivery, the platform offers on-demand grocery deliveries branded as Instamart and a same-day package delivery service known as Swiggy Genie.
Invesco, the primary investor leading Swiggy’s $700 million funding round in January 2022, has once again increased the company’s valuation, marking the third consecutive rise. According to regulatory filings as of January 31, 2024, Swiggy’s fair market value now stands at $12.7 billion. Over the span of a year, Invesco has elevated Swiggy’s valuation from a low of $5.5 billion to its current high of $12.7 billion.
Swiggy IPO update
Additionally, another investor, Baron, elevated Swiggy’s valuation to $12.2 billion just last month. While these fluctuations may not have a significant impact on startups, they provide insight into the trajectory of the company’s business, which is particularly crucial for Swiggy as it prepares to go public later this year, as reported by the Moneycontrol news web portal.
