Samsung Venture Investment Corp (SVIC), is in talks to invest $7-$10 million (about Rs 50-Rs 72 crore) in Swiggy, according to sources aware of the developments.
The investment, discussions for which are at an advanced stage, will be a part of Swiggy’s ongoing Series I financing round, which has so far been led by Naspers, the largest stakeholder in the company.
Last week, Swiggy announced that Naspers had led a $113-million funding round, which is part of a larger $150-million fundraise being undertaken by the company, with the South African investor alone putting in about $100 million. SVIC’s investment in Swiggy will be at the same valuation – $3.6 billion – that Naspers and Meituan have invested at.
Separately, SVIC has also coiled a Rs 100 crore-plus financing round in Stelling Technologies, which owns and operates intercity mobility startup IntrCity by RailYatri, along with Nandan Nilekani, the non-executive chairman of Infosys.
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