His ownership is valued at Rs 583 crore ($77.73 million). 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. The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. In the upcoming investment, Swiggy’s early investors could sell some of their shares in the company. 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 … Our team members are sector experts in consumer, Internet, media, and healthcare. Swiggy General Information Description. 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. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. 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). 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. (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. Meituan-Dianping is a new investor in Swiggy. Naspers has also invested into the parent company of Swiggy’s rival foodpanda, Delivery Hero. The single largest Chinese investment in India is the $1.1 billion acquisition of Gland Pharma by Fosun in 2018. 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. 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. 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 … Founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014, … A host of prominent Indian startups including online grocer BigBasket, e-tailer Snapdeal and food delivery firm Swiggy have raised money from Chinese investors. “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. 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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. For all the latest Business News, download Indian Express App. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 … 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. Earlier this year, Swiggy raised $113 million from investors including China’s Meituan Dianping. 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 … Jai Vardhan is co-founder and CEO at Entrackr. He has been writing about startups and digital economy for nine years. Swiggy designs an on-demand food delivery platform that brings food from neighborhood restaurants directly to users' doors. Swiggy. Hillhouse Capital Group was founded in 2005 and is based in Beijing, China. Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars. In the last five rounds of funding, Swiggy had raised $155.5 million. CAIT Seeks Probe Into Chinese Investors Of Zomato, Paytm, BYJU’S, Swiggy Among 141 Indian Startups. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. 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. The round, which keeps Swiggy’s valuation at over $1 billion, saw investments secured from China’s Tencent, Hillhouse Capital, and Wellington Management too. Entrackr had exclusively reported the secondary transaction in January. 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. Developer of an online food delivery platform designed to bring food from neighborhood restaurants directly to users' doors. Jaimini exited Swiggy after a six-year-long stint to join Pesto Tech, a career accelerator. Fosun's investments include logistics firm Delhivery, payments startup Dot and social vernacular platform Headfone. 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. 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). Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Bengaluru-based food delivery major Swiggy has raised INR 264 Cr in its Series I funding round led by Chinese internet giant Tencent. 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 … - Seats Limited to 100 Only (First Come First Serve). 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Meituan-Dianping is a new investor in Swiggy. 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. For Swiggy, which counts Meituan Dianping as an investor, other business lines like concierge and grocery delivery services are … 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 … 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). Swiggy was founded in 2014 and has its corporate headquarters in Bengaluru, India. With this new funding, Swiggy said it will strengthen its market leadership position by introducing a host of unique and advanced products and services. Explained: Is there a grey area in cricket's concussion substitute rule? The Indian Express is now on Telegram. 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. National Crush of India 2020 Rashmika Mandanna does this agility exercise with ease; can you? 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. 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. It has backed unicorns like Flipkart, Swiggy and Ola. Till date, Swiggy has raised Rs 1,125 crore in the ongoing Series I 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. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. 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. Food delivery startup Swiggy has just raised $1 billion in its series H funding from the existing as well as new investors. 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). 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. It currently … Foodtech major Swiggy has added $43 million more in its ongoing Series I round led by Chinese tech giant Tencent. New investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have also participated in the round. 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 current round of funding is its largest round yet. Connect with him at [email protected], Entrackr is a new age media platform for entrepreneurs, startups and technology enthusiast Read More >. 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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. 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. 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. According to a TechCrunch report, the valuation of Swiggy is a staggering US$3.6 billion. The Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Can you guess the time in CIA's photo challenge? 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. The third co-founder, Nandan Reddy, commands a 2.5% stake consisting of 24,690 equity shares of the company. india china border dispute New India under China's watch: 1400 companies including Paytm, Zomato, Swiggy monitored. 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. Other investors in the company include Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. 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. 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. Other investors like Meituan Dianping from China and Wellington Management Company from the U.S participated in this funding round. His departure wasn’t expected and surprised the ecosystem. Lorem ipsum dolor sit amet, consectetur adipiscing elit. Copyright © 2020 The Indian Express [P] Ltd. 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