Invesco cuts Swiggy's valuation to $5.5B amid volatility: Report
29 October 2024
Invesco has slashed food delivery firm's Swiggy valuation to $5.5 billion as per media reports. This would be the second such move this year, as per a TechCrunch report. Last month, the US-based investment management firm cut the valuation of its holding in Swiggy to $8 billion from $10.7 billion, as per its regulatory findings. YourStory was unable to independently verify the report. Queries have been sent to Swiggy and this story will be updated with its response. The latest valuation is 48.6% lower than in January last year when Swiggy turned decacorn post raising $700 million in a funding round. Investors including Invesco, Baron Capital Group, Sumeru Venture, IIFL AMC's late stake tech fund, Kotak, Qatar Investment Authority, and others participated in the round that made Swiggy one of India's most valuable startups.
Read more at: https://yourstory.com/2023/05/invesco-cuts-swiggy-valuation-prosus-investment-food-delivery
Invesco has slashed food delivery firm's Swiggy valuation to $5.5 billion as per media reports. This would be the second such move this year, as per a TechCrunch report. Last month, the US-based investment management firm cut the valuation of its holding in Swiggy to $8 billion from $10.7 billion, as per its regulatory findings. YourStory was unable to independently verify the report. Queries have been sent to Swiggy and this story will be updated with its response. The latest valuation is 48.6% lower than in January last year when Swiggy turned decacorn post raising $700 million in a funding round. Investors including Invesco, Baron Capital Group, Sumeru Venture, IIFL AMC's late stake tech fund, Kotak, Qatar Investment Authority, and others participated in the round that made Swiggy one of India's most valuable startups. Read more at: https://yourstory.com/2023/05/invesco-cuts-swiggy-valuation-prosus-investment-food-delivery
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