Carlyle Group may invest fresh funds in the food-delivery app Swiggy. A capital worth $200 million is predicted to be invested, valued at $4.5 billion. The unicorn will use the capital to expand its delivery fleet. It will also look at expanding beyond food, i.e., other delivery services.
US-based private equity fund Carlyle Group will make its second Indian technology startup bid. This move may come to the Food delivery unicorn startup, Swiggy. The first move by Carlyle was made in Delhivery, back in 2017.
Carlyle may invest up to $200 million in the food delivery unicorn at a valuation of $4.5 billion. It was valued at $3.3 billion by the end of last year.
Recently, the startup was seen to show a keen interest in tech startups. This was confirmed when it acquired emerging AI, ML, and data learning startup, Kint.io. This move was seen to come to provide its customers with a superior experience.
Learn more about this acquisition and unexpected move from the food delivery startup: Swiggy swinging into tech acquisitions?
Swiggy to deliver more than just food now?
If this transaction happens and the deal is signed, the startup would be looking to achieve its long-pending goal, to deliver more than just food.
Swiggy’s ambition is that it wants to be the only one delivering anything to your house. Food is only one part of that,
– an investor aware of the discussion
This was (sort of) confirmed by the company just this February. The startup launched Swiggy Stores. Here, it ties up with local grocery and other stores for home delivery. This program is seeing its pilot in Gurugram.
TOI, in recent news, reported that Google is also expected to invest in Swiggy. Over the last year, the unicorn is in talks with the funding giant SoftBank’s Vision Fund for investment. Nothing much has come from that direction in media.