SoftBank’s incredibly late bet on Swiggy
The two-horse race in Indian food tech is set to take a curious turn with the fund’s purported interest in Swiggy.
Why read this story?
Editor's note: Late last week, news appeared that SoftBank is looking at investing in Swiggy. SoftBank’s Vision Fund is finalising a $450 million investment in food delivery app Swiggy after having delayed the wager while it evaluated the sector for a few years, people familiar with the development told ET. The deal is likely to peg Swiggy’s valuation at $5 billion prior to investment. It is an extension of the $400 million round that company co-founder & chief executive Sriharsha Majety announced in an internal email earlier this month, sources said. From ETtech Scoop: Swiggy set to raise $450 million from SoftBank• The Economic Times If this deal does go through, it’ll be a very interesting turn of events. For a variety of reasons which we will outline below and then go on to delve deeper into: SoftBank is no stranger to the food tech business. Just last year, it made a hefty profit from its investment in San Francisco-based food delivery bet DoorDash. And, this week, SoftBank’s other on-demand transportation/food delivery bet, Singapore’s Grab, is going public in a deal which …
More in Internet
You may also like
Ten business developments for 2026
Who’s going to lead the IPO party, what’s going to drive the market, where are some of the leading businesses headed, and more.
Pot calling the kettle black: Albinder’s quick-commerce paradox
The Blinkit CEO calling out irrationality while fuelling it is yet another example of a quick-commerce player hoping to outlast rivals in a classic game of one-upmanship.
How India’s retail shareholders are being left holding the can
Swiggy and Ola Electric’s plans to return to the public markets soon after big-bang IPOs leave investors with dilution, little prospect of returns and plenty of questions.
