Friday, May 10, 2024

Ads by Google

Ads by Google

TS ECET 2024 Answer Key Out! Download Now, Raise Objections by May 12th

Osmania University has released the preliminary TS ECET 2024 answer key on May 9, along with the TS ECET question paper. Candidates can access...
HomeNewsInvestor hikes Swiggy value by 13% to $12 billion

Investor hikes Swiggy value by 13% to $12 billion





, American investor

Baron Capital

has marked up the

food delivery



to about $12.1 billion as of Dec-end, US regulatory filings showed. This is 13% higher than the startup’s peak valuation of $10.7 billion at which it had last raised $700 million from Invesco-led investors in Jan 2022.
The valuation boost is significant for Swiggy, which is preparing for a public market debut, and comes barely two months after its other


Invesco made filings notifying that it had raised the startup’s valuation to $8.3 billion.

This, however, is not the first time that Baron Capital has raised Swiggy’s valuation. Last year, the company had marked up the startup’s valuation to $8.5 billion. Swiggy declined to comment. Baron Capital had also participated in Swiggy’s last fund-raise.
Swiggy – which rivals Zomato – has been making attempts to reduce its cash burn and move towards profitability. Earlier this year, it let go of 350-400 employees or around 7% of its workforce in a second round of layoffs so as to check costs and build in more efficiencies. With several unicorn startups gearing up to get listed, they are sharpening focus on achieving profitability – a metric that public markets tend to reward.