Read More. Chinese internet giant Tencent has joined a queue of global investors eyeing shares in India’s online food ordering and delivery giant Swiggy. The report claimed that those targeted also include venture capitalists, angel investors, founders and chief technology officers of the country’s promising startups and e-commerce platforms, and foreigner investors based in India. Till date, Ola has raised $3.8 billion from its investors. The Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. Chinese investors have been a part of Swiggy’s journey since its early days. A lot of early grocery delivery startups have either failed or had to pivot just to survive. 2,930 Number of Organizations • $73.3B Total Funding Amount • 8,019 Number of Investors. Founded by Bhavish Agarwal and Ankit Bhati in 2010, Ola aims to build mobility solutions for a billion people. Hong Kong-based SAIF Partners was the first company along with US-based Accel to invest $2 million in its first institutional funding round in 2015. In 2018, a $100 million funding was received by Swiggy from Chinese Shopping Platform- Meituan-Dianping and existing investor Naspers and small investments that followed that year led the company’s valuation to over $1 Billion, making Swiggy a member of the prestigious Unicorn Club. SIGNALLING A clear investment shift in the food business, money pumped in by Private Equity (PE) and Venture Capital (VC) players in just two online platforms — Zomato and Swiggy — was merely $143 million less than what was invested in the country’s organised restaurant segment over the last five years. As of 2019, Alibaba Group was still the largest stakeholder with 26.26% stake in the company. Experience Swiggy's superfast delivery for food delivered fresh & on time Restaurants in your pocket Order from your favorite restaurants & track on the go, with the all-new Swiggy app. In merely six years, Swiggy now has more than 1,40,000 restaurants on its platform serving 20 million customers in over 500 cities across India. Founded by Deepinder Goyal and Pankaj Chaddah in 2008, Zomato started as a search and discovery platform for restaurants in the Delhi-NCR region as Foodiebay. China’s Tencent in talks for significant investment in Swiggy. “Swiggy has performed tremendously and provided exceptional returns. Track . Founded by Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Sudhakar in 2011, BigBasket is one of India’s largest online food and grocery store offering over 60,000 products from 1,000 brands. Alibaba became BigBasket largest shareholder when it helped the company raise $300 million in its series E round in 2018. However, Alibaba’s financial services company Ant Financial became a stakeholder in Zomato in 2018 with an investment of $200 million. Recent product launches. Swiggy has over 1.6 lakh restaurant partners across over 500 cities and has a delivery fleet of more than 2.25 lakh active delivery partners. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. Swiggy has over 1.6 lakh restaurant partners across over 500 cities and has a delivery fleet of more than 2.25 lakh active delivery partners. This startup with no CEO became one of the fastest to join the coveted unicorn club after it raised $225 million in its series C round from DST Global and Lightspeed India Partners in 2018. While taking a closer look, you realize that 18 out of 30 Indian startup unicorns are funded by China. Prior to this, Zomato had raised $150 Mn funding at almost the same valuation from existing investor Ant Financial, which is an affiliate of Chinese ecommerce major Alibaba. Copyright © 2020 - Sorting Hat Media Networks Private Limited, 18 out of 30 Indian startup unicorns are funded by China, Flipkart’s growth from an online bookstore to a full-fledged e-commerce company, MHRD announces Addition of 4 Kendriya Vidyalayas, Covid-19 aftermath : Tata Motors to remove 1,100 jobs from Jaguar Land Rover (JLR) to save money. Online grocery delivery is one of the toughest markets to crack as it has low margins and high churn rates. Till date, Paytm’s parent company One97 has raised a total of $4.4 billion and according to Crunchbase data, more than $900 million comes from the Alibaba Group. According to Crunchbase, Zomato has raised a total of $914.6 million across multiple rounds and Ant Financial alone has invested over $750 million. Comments from Swiggy, Saif, Bessemer, and Naspers, will be updated as and when received. Other investors included Harmony Partners, RB Investments etc. Since then Alibaba has made a couple more investments in BigBasket. It was later rebranded as Zomato in 2010 and started food its delivery service in 2015. The data shared by business signals platform Paper.vc revealed that Saif Partners made the highest return of Rs 438 crore ($61 million) followed by Rs 401 crore ($56 million) earned by Norwest, $312.8 crore ($44 million) secured by Bessemer, and Rs 178.8 crore ($25 million) by Accel Partners by offloading parts of their stakes. Also read: Amid OYO’s mass layoffs, founder Ritesh Agarwal explains firings; FULL TEXT of letter to staff. Today, Zomato is delivering food across more than 500 cities in India and its restaurant search and discovery business is present in over 10,000 cities across 24 countries, including India. Also, China holds control over other widely used foreign apps in India, as per the report published in March 2020. View Comments Add Comments. “Over the last financial yea. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. Founded by Vijay Shekhar Sharma in 2010, Paytm started as online recharge platform for prepaid mobile, DTH and data card with an initial investment of $2 million from the founder himself. However, Swiggy founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini made modest returns of Rs 7.1 crore each during FY19. In order to grow at such a pace and compete with the likes of Flipkart and Amazon, Snapdeal had to raise a lot of funds. Click here to join our channel and stay updated with the latest Biz news and updates. Related; Most Read; Most Shared; Food delivery recovery at pre-Covid levels: Zomato; Zomato makes its takeaway service available to … Founders Majety, Jaimini, Reddy have 5.82 per cent, 2.10 per cent, and 2.63 stakes respectively. The company caters to over 10 million customers across 25 cities. Swiggy had raised two rounds of funding in FY19 — $210 million around June by DST Global and Naspers along with its international investment unit Prosus and $1 billion in December by Prosus and Naspers during that valued the company at $3.3 billion. With 80 million users, Dream11 has emerged as India’s largest fantasy gaming platform. IN THE SPOTLIGHT . While Vijay is the man behind Paytm, he currently owns less than 20% of his own company. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. The data shared by business signals platform Paper.vc revealed that Saif Partners made the highest return of Rs 438 crore ($61 million) followed by Rs 401 crore ($56 million) earned by Norwest, $312.8 crore ($44 million) secured by Bessemer, and Rs 178.8 crore ($25 million) by Accel Partners by offloading parts of their stakes. Dream11 became a unicorn after it raised an undisclosed amount of funds from the Chinese asset management firm Steadview Capital in 2019. While OYO has largely remained free of Chinese investors, just last year it received $100 million from Chinese transportation company Didi Chuxing. Meituan-Dianping, a Chinese food-to-flights startup, is quietly increasing its exposure to India. Accel Partners couldn’t be reached.
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