SoftBank Picks Swiggy Over Zomato In $450 Mn Indian Food Delivery Bet
SoftBank investment is said to be an extension of Swiggy's $800 Mn round announced internally this month Covid-led momentum for online delivery platforms has been a big factor in SoftBank interest in this segment Swiggy is looking to build a $1 Bn war chest to fend off competition coming from IPO-bound Zomato Japanese conglomerate SoftBank is planning to invest about $450 Mn in Swiggy, valuing the food delivery app at $5 Bn, according to multiple reports.
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