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. Fosun's investments include logistics firm Delhivery, payments startup Dot and social vernacular platform Headfone. He has been writing about startups and digital economy for nine years. Sriharsha Majety, on the other hand, remains the biggest stakeholder amongst the three founders with a 5.54% equity in the company. Jaimini exited Swiggy after a six-year-long stint to join Pesto Tech, a career accelerator. For all the latest Business News, download Indian Express App. 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. 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. Swiggy was founded in 2014 and has its corporate headquarters in Bengaluru, India. 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. His ownership is valued at Rs 583 crore ($77.73 million). 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The single largest Chinese investment in India is the $1.1 billion acquisition of Gland Pharma by Fosun in 2018. A host of prominent Indian startups including online grocer BigBasket, e-tailer Snapdeal and food delivery firm Swiggy have raised money from Chinese investors. A food delivery rider for Swiggy, operated by Bundl Technologies Pvt., sits on a motorcycle in Mumbai, India, on Monday, Feb. 3, 2020. Copyright © 2020 The Indian Express [P] Ltd. All Rights Reserved, Swiggy raises Rs 642 crore from Naspers, China's Meituan-Dianping, Farmer protests: India summons envoy, Trudeau reiterates stand on peaceful protests, Stan Swamy moves plea for hearing if he is to be transferred to another jail, Scholarship scam: Jharkhand High Court asks state to file detailed affidavit, Massive BJP surge in Hyderabad civic poll, says Telangana next, Wedding stopped in UP, groom says, ‘no talk of conversion... love enough’, On table now, issues which Opp raised in House, Govt dismissed, Anvay naik suicide case: Raigad police drops key charge against Arnab, two others, Those in touch with Opposition parties free to quit TMC: Mamata Banerjee. In the upcoming investment, Swiggyâs early investors could sell some of their shares in the company. Hillhouse Capital Group invests globally, with a particular focus on Asia. Foodtech major Swiggy has added $43 million more in its ongoing Series I round led by Chinese tech giant Tencent. 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The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. The same trend has played out in China, where Meituan Dianping - the countryâs largest food delivery service saw sales from food business drop by half, in February, as per the company. 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. Explained: Is there a grey area in cricket's concussion substitute rule? CAIT Seeks Probe Into Chinese Investors Of Zomato, Paytm, BYJUâS, Swiggy Among 141 Indian Startups. india china border dispute New India under China's watch: 1400 companies including Paytm, Zomato, Swiggy monitored. 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. 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. Entrackr had exclusively reported the secondary transaction in January. Swiggyâs valuation has been largely flat from its previous $1 billion round in December 2018, which, too, was led by Naspers, along with Chinaâs Tencent, Hillhouse Capital, and Wellington Management. Lorem ipsum dolor sit amet, consectetur adipiscing elit. The current round of funding is its largest round yet. 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 ⦠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 ⦠AngelList India head Utsav Somani launches micro VC fund, Exclusive: Surge leads seed round in Bharat-focused community enabler Kutumb, Warburg Pincus-controlled SCIL invests Rs 140 Cr in Rivigo, Exclusive: Decoding Unacademy’s Series G round, EnKash operating revenue jumps 5.8X to Rs 20 Cr in FY20, INDMoney spent Rs 19 Cr to earn Rs 1.07 Cr in operating revenue in FY20, 1mg’s revenue crosses Rs 350 Cr; net worth erodes to negative Rs 883 Cr, Zetwerk’s revenue skyrockets by 20X to Rs 320 Cr in FY20, Unacademy allots ESOP worth Rs 20 Cr to former VP Dinesh Godara, Register for Unicorn Trip 3.0 Chinese investors, such as Alibaba, Tencent, and Xiaomi, are active in the Indian start-up space, and have collectively invested billions of dollars. The Indian Express is now on Telegram. 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. Those firms include 70 listed companies and over 160 are valued at more than $1 billion, according a speech made by Tencent President ⦠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. 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 Chinaâs e-commerce platform Meituan-Dianping. All three of the investors mentioned above have not participated in any equity funding round after Series E. Israeli-Russian billionaire Yuri Milnerâs 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). It currently ⦠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 ⦠Click here to join our channel (@indianexpress) and stay updated with the latest headlines. Chinaâs 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. Lorem ipsum dolor sit amet, consectetur adipiscing elit. 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. Click edit button to change this text. “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. With this new funding, Swiggy said it will strengthen its market leadership position by introducing a host of unique and advanced products and services. Our team members are sector experts in consumer, Internet, media, and healthcare. Tencent is another aggressive investor in the Indian startup ecosystem. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. Other investors in the company include Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. 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). In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. For Swiggy, which counts Meituan Dianping as an investor, other business lines like concierge and grocery delivery services are ⦠Other investors like Meituan Dianping from China and Wellington Management Company from the U.S participated in this funding round. New investors Ark Impact, Korea Investment Partners, Samsung Ventures and Mirae Asset Capital Markets have also participated in the round. Rahul Jaimini, one of the co-founders of Swiggy who hung his boot at the foodtech major earlier this month, holds a 2% stake in the company according to regulatory filings. 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. 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. Meituan-Dianping is a new investor in Swiggy. Swiggy. The third co-founder, Nandan Reddy, commands a 2.5% stake consisting of 24,690 equity shares of the company. 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. 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). 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. Bengaluru-based food delivery major Swiggy has raised INR 264 Cr in its Series I funding round led by Chinese internet giant Tencent. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 ⦠Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo. Swiggy General Information Description. 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. Menlo Park-based hedge fund Coatue PE owns 3.6% and Hadley Harbor has 2.95% ownership in the Majety-led firm. Jai Vardhan is co-founder and CEO at Entrackr. The round, which keeps Swiggyâs valuation at over $1 billion, saw investments secured from Chinaâs Tencent, Hillhouse Capital, and Wellington Management too. Swiggy designs an on-demand food delivery platform that brings food from neighborhood restaurants directly to users' doors. Can you guess the time in CIA's photo challenge? His departure wasn’t expected and surprised the ecosystem. National Crush of India 2020 Rashmika Mandanna does this agility exercise with ease; can you? Earlier this year, Swiggy raised $113 million from investors including Chinaâs Meituan Dianping. - Seats Limited to 100 Only (First Come First Serve). 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. According to a TechCrunch report, the valuation of Swiggy is a staggering US$3.6 billion. Till date, Swiggy has raised Rs 1,125 crore in the ongoing Series I round. Food delivery startup Swiggy has just raised $1 billion in its series H funding from the existing as well as new investors. Independent, proprietary research lies at the heart of our investment process. 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). It has backed unicorns like Flipkart, Swiggy and Ola. (Photographer: Dhiraj Singh/Bloomberg) Food ordering platform Swiggy on Monday announced a secondary liquidity programme for its employees who were part of the employee ⦠The report claimed that those targeted also include venture capitalists, angel investors, founders and chief technology officers of the countryâs promising startups and e-commerce platforms, and foreigner investors ⦠Hillhouse Capital Group was founded in 2005 and is based in Beijing, China. The Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. Ut elit tellus, luctus nec ullamcorper mattis, pulvinar dapibus leo.Click edit button to change this text. 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 ⦠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. Chinese investors have pumped in an estimated $4 billion into Indiaâs tech startups which includes bets on 18 out of the countryâs 30 unicorns. Tencent Holdings joined Naspers in a US$1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in Chinaâs largest social media and gaming company. Meituan-Dianping is a new investor in Swiggy. 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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