Swiggy raises $43m in Series I round, funds likely to be used to expand new business; company's valuation goes past $3.65 bn
The latest fund-raising comes about 45 days after Swiggy raised $113 million led by South African internet giant Naspers, along with Hadley Harbour Master Investments and Meituan Dianping.
Tencent-backed Meituan raises $4.2 bn in world's biggest internet-focussed IPO priced near range top: Sources
Loss-making Meituan last month set a price range of HK$60 to HK$72 per share for the IPO.
The latest investment, if finalised, will value Swiggy at $2.5-3 billion and will mark the online foods delivery platform's third fundraise this year
China has been a sweet spot for Starbucks for the past few years, with a burgeoning cafe culture driving rapid growth even as the market saturated back home.
Xiaomi shares closed at HK$16.80, having touched a low of HK$16 in early trade, compared to the IPO price of HK$17 per share.
Swiggy has so far raised $465 million in seven rounds of funding.