India's Swiggy eyeing $10 billion valuation

Indian food delivery startup Swiggy is in talks to raise over $500 million in a new financing round that could propel its valuation to over $10 billion.

Image from Swiggy's Facebook page.

Swiggy is looking to raise about $500 million in a new financing round that is likely to be led by US asset manager Invesco. The valuation of the online food delivery company is likely to catapult by 90% to as much as $10 billion. The company was valued at $5.6 billion in July when it raised $1.25 billion led by the SoftBank Vision Fund. If the deal goes through, Swiggy will achieve the status as one of India’s highest valued privately owned startups.