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India's Swiggy raises $1.25bn led by SoftBank

Food delivery startup's latest fundraiser heavily oversubscribed

Swiggy's food deliveries have boomed in recent months during India's nationwide lockdown to try to suppress a massive COVID-19 resurgence that has left over 400,000 people dead. (Photo by Punit PARANJPE / AFP)   © AFP/Jiji

TOKYO -- Indian food delivery company Swiggy has raised $1.25 billion from investors including SoftBank Group's Vision Fund 2, as the startup aims to expand its business and capture India's growing online grocery market.

The company said on Tuesday that the latest fundraiser "was heavily oversubscribed following strong interest from investors, and comes on the back of Swiggy's rapid recovery from the impacts of COVID-19 and subsequent growth in 2020-21."

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