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SoftBank picks Swiggy over Zomato in $450 Mn Indian food delivery bet

Shortpedia

Content Team
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Japanese conglomerate SoftBank is planning to invest about $450 Mn in Swiggy, valuing the food delivery app at $5 Bn, according to multiple reports. The latest investment is said to be an extension of Swiggy’s $800 Mn round announced by the company cofounder and CEO Sriharsha Majety in an internal email this month. The company has already raised the first tranche of this round earlier this week.