Food delivery app Swiggy is close to raising $800 million which will push up the valuation for the start-up from $3.6 bn to $5 bn. Swiggy co-founder and CEO informed employees in a letter that the latest fund raising was heavily over-subscribed.
In the latest round of funding Goldman Sachs, Amansa Capital along with 3 others will be joining as new investors. The fund raising comes just ahead of rival Zomato’s proposed IPO plans.