Category: Swiggy

Food delivery firm Zomato surges 65% in key India debut

Shares in Zomato, a Gurgaon-based food delivery company and first of India’s consumer tech startups to go public, closed up 64.7% in its debut day of trading in Mumbai, delivering a key insight into the appetite investors have for the world’s second largest internet market’s burgeoning startup ecosystem. Zomato’s shares…

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India’s Razorpay raises funds at $3 billion valuation ahead of Southeast Asia launch

Six-year-old Bangalore-based fintech Razorpay topped a $1 billion valuation late last year, becoming the first Y Combinator-backed Indian startup to reach the much sought after unicorn status. In less than six months since, the Indian startup has tripled its valuation and is preparing to launch in the Southeast Asian markets.…

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SoftBank in talks to invest up to $500 million in Swiggy

SoftBank Vision Fund 2 is in advanced stages of talks to invest up to half a billion dollars into food delivery startup Swiggy, two sources familiar with the matter told TechCrunch. The new investment values the Indian startup at about $5.5 billion, the sources said. The new investment would add…

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India’s Zomato valued at $5.4 billion in new $250 million investment

Zomato has raised $250 million, two months after closing a $660 million Series J financing round, as the Indian food delivery startup builds a war-chest ahead of its IPO later this year. Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer…

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Equity Monday: Food delivery economics, and global layoffs

A few housekeeping notes. First, the main, long-from Equity episodes still drop every Friday, so if you are behind, check your podcast feed. Also, we’re running a listener survey which you can find here, in the last ep’s shownotes. And finally, I am off next week, so Danny Crichton will…

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India’s Swiggy to cut 1,100 jobs, scale down cloud kitchen operations

Swiggy said on Monday it is cutting 1,100 jobs and scaling down some adjacent businesses as India’s top food delivery startup looks to reduce costs to survive the coronavirus pandemic that has made people cautious about ordering food online. In an internal email, which the Bangalore-headquartered startup published on its…

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