Swiggy gets $113 mn fund from Naspers, Meituan and Wellington Management
By MYBRANDBOOK
Swiggy, the food delivery company in its Series I has raised Rs 805 crore ($113.3 million). South African multinational Internet Group Naspers alone invested Rs 712 crore ($100 million). Existing investors Hadley Harbour Master Investments and Meituan have also participated in the round.
As per the regulatory filings, the company has allotted 30,170 shares to MIH India Food (owned by Naspers), Hadley Harbour has picked up 302 shares worth Rs 7.13 crore and Meituan-controlled Inspired Elite Investments has 3,606 shares.
Post this round, Naspers holds about 40.56% ownership in the company while Meituan has close to 6.35% equity in the Bengaluru-based company. Wellington Management commands a little over 1% stake.
It’s worth noting that this is a significant infusion in the company after its $1 billion worth Series H round in December 2018. The Series I round seems to be an ongoing round and the company is likely to raise more capital.
BHIM to join e-commerce, competing with PhonePe and Google Pay
The government-supported payment software BHIM is getting ready to join t...
The latest version of X helps prevent deepfakes on social medi
To combat deepfakes and shallowfakes, Elon Musk revealed a new update t...
India and Namibia collaborate on a payment system similar to U
Once operational, the platform will enable digital transactions in Namibia,...
Sebi issues show-cause notices to six Adani group firms
Sebi issued show-cause notices to six Adani Group firms, including Adani ...
NETWEB TECHNOLOGIES INDIA LTD.
FIREBOLTT
QUICK HEAL TECHNOLOGIES PVT. Ltd.
MICROTEK INTERNATIONAL PVT. LTD.
Technology Icons Of India 2023: Nandan Nilekani
Nandan Nilekani is the Co-Founder and Chairman of the Board, Infosys T...
Technology Icons Of India 2023: Kulmeet Bawa
Kulmeet Bawa resides as President & Managing Director, SAP Indian subc...
Technology Icons Of India 2023: Deepinder Goyal
Deepinder Goyal is the Founder and CEO of Zomato. Deepinder, or Deepi,...
C-DOT enabling India in indigenous design, development and production of telecom technologies
An autonomous telecom R&D centre of Government of India, Center of Dev...
TCIL continues to strengthen India with its technology expertise
TCIL undertakes consultancy & turnkey projects in the field of Telecom...
EESL encouraging e-mobility adoption across India
Energy Efficiency Services Limited (EESL) is a Super Energy Service Co...
SATCOM INFOTECH PVT. LTD.
Satcom Infotech Pvt. Ltd is a distribution houses in security in India...
NETPOLEON SOLUTIONS
Netpoleon Group is a Value-Added Distributor (VAD) of Network Security...
TECHNOBIND SOLUTIONS PVT. LTD.
TechnoBind’s business model is focused on identifying and partnering...