InvestorQ : Can you tell me about Softbank’s investment in Swiggy?
Angel dcosta made post

Can you tell me about Softbank’s investment in Swiggy?

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Juvina Maggie answered.
3 weeks ago
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The Competition Commission of India or CCI has approved a proposed deal involving SoftBank investing in Swiggy. Currently in the digital food delivery market, Swiggy is the biggest competitor to Zomato in India. Softbank will invest $450 million in Swiggy marking its first wager on the foodtech sector in India. Softbank will buy a stake in Bundl Technologies, which owns and operates Swiggy platform.

Globally, Softbank is active in foodtech with 22% in global food delivery firm, DoorDash. Softbank was also an investor in Uber Eats, which eventually sold out to Zomato in Jan-20. Softbank may be looking to play Swiggy as a proxy for foodtech in India ahead of the Zomato IPO.

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