Skip to content Skip to sidebar Skip to footer

Global hedge fund Coatue Management in talks to Invest in Swiggy

Global hedge fund Coatue Management in discussion to Invest in Swiggy.

New York based Global technology hedge fund Coatue Management is reportedly in discussion to pick up minority stake in the online food delivery startup Swiggy. If sources are to be believed, Coatue Management along with Chinese e-commerce firm Meituan-Dianping and other investors are looking to invest $100 million in the Bengaluru based startup.

Interestingly, Meituan-Dianping was one of the investors that had participated in the $100 million round for Swiggy less than two months back. The Chinese e-commerce firm contributed $40 million in that round, while the rest was contributed by the South African media giant Naspers.

Coatue Management and Meituan-Dianping have both refused to comment on the latest news reports about the fundraising.

It is also not clear whether this funding round will be an extension of the earlier round and at what valuation Swiggy would raise the funds. Swiggy was valued around $700 million when it raised funds almost two months back from Meituan-Dianping and Naspers.

If Swiggy does manage to scoop funds from Coatue Management then it will mark a huge turn around for the entire online food delivery industry. The online food delivery industry went through a consolidation phase for last one and half years owing to wafer-thin profit-margins and funding drought.

This turn around will also be significant considering the fact that Swiggy’s arch-rival Zomato managed to secure $200 million from Alibaba last month. Besides, cab-hailing major Ola is also reportedly planning to make huge investment in its subsidiary company FoodPanda, which it acquired in December last year.

Most Industry experts claim that these positive developments will infuse fresh life in the embattled online food industry. But experts are equally cautious about the persistent challenges that continue to put pressure on the balance sheets of Zomato, Swiggy and their other competitors.

This Pop-up Is Included in the Theme
Best Choice for Creatives
Purchase Now