US investment firm Invesco slashes Swiggy valuation by 33% to $5.5 billion
28 October 2024
US investment firm Invesco, which led Swiggy’s previous funding round, has marked down the food delivery giant’s valuation by 33 per cent from $8.2 billion to about $5.5 billion, according to a filing. In January last year, Swiggy raised $700 million in Invesco-led funding, which made the outfit a decacorn, almost doubling its valuation to $10.7 billion. In April last year, Invesco estimated the value of its Swiggy shares at $186 million. It now values them at $95 million, according to filings reviewed by tech-focused media platform The Arc. It said the latest markdown put Swiggy’s valuation below Zomato, which trades with market capitalisation of $6.7-billion.
US investment firm Invesco, which led Swiggy’s previous funding round, has marked down the food delivery giant’s valuation by 33 per cent from $8.2 billion to about $5.5 billion, according to a filing. In January last year, Swiggy raised $700 million in Invesco-led funding, which made the outfit a decacorn, almost doubling its valuation to $10.7 billion. In April last year, Invesco estimated the value of its Swiggy shares at $186 million. It now values them at $95 million, according to filings reviewed by tech-focused media platform The Arc. It said the latest markdown put Swiggy’s valuation below Zomato, which trades with market capitalisation of $6.7-billion.
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