The investment round is expected to go up to $900 million.
The upcoming funding round of Swiggy, India's largest online food-delivery platform, will include an estimated $300 million worth of secondary share sales by some key backers. This will make one of the largest liquidity events for growth-stage investors in the country's startup ecosystem.
The investment round is expected to go up to $900 million. It may push Swiggy's valuation at $2.5-3 billion.
The existing investors selling a part of their stakes in Swiggy include Bessemer Venture Partners, Norwest Venture Partners, Accel and SAIF Partners. Together, they own about 39% in the four-year-old company.
Swiggy's earliest investors, RB Investments and Harmony Partners, will be selling their entire 3% stake, making a complete exit. Other existing investors including Meituan Dianping, Coatue Management and DST Global are also expected to participate in this funding round.