Swiggy goes to Softbank to fight off Zomato 👀

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Jul 21, 2021

1 min read

Swiggy closed a mammoth $1.25 billion Series J round led by Softbank and Prosus Ventures, at a $5.5 billion valuation — days after rival Zomato locked bids for its IPO from the public.

Softbank alone brought $450 million to the party. Fresh funds will go towards expansion of the core delivery biz, while doubling down on non-food verticals. Can’t hold out that IPO for long now…

Big picture — more than $40 billion came chasing the Zomato IPO, which confirms to late stage investors that the line for bag holders downstream is quite long. Rounds will keep coming for a while!

office space i would set the place on fire too if i didnt get my cake GIF by Maudit
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