Amazon India is considering an investment in online food delivery startup Swiggy and has held several rounds of discussions with the Bengaluru-based startup over the past three months, according to four people directly aware of the ongoing negotiations.
Swiggy has also attracted the attention of other strategic investors, including Alibaba-backed Chinese food delivery venture Ele.me, said the sources. “Everyone is talking since they are doing really well but it is not certain that a deal will be closed,” said one of the people quoted above, who also confirmed that other Chinese investors have approached Swiggy seeking to invest in it.
Founded by BITS-Pilani alumnus Sriharsha Majety, the CEO, along with Rahul Jaimini and Nandan Reddy, Swiggy is regarded as one of the stronger players in a market which has seen several casualties.
It competes with Zomato and Rocket Internet’s Foodpanda. At its last round of funding in August, the company was valued at an estimated $190-200 million (Rs 1,300-1,350 crore).
Source: Economic Times
