Swiggy raises Rs 5,225 crore from Invesco; to advance core platform, grow quick commerce grocery service Instamart
The food delivery platform Swiggy announced on Monday that it had raised USD 700 million (approximately Rs 5,225 crore) in new funding, led by investment firm Invesco. The funds will mainly be used to advance its core platform and grow its quick commerce grocery service Instamart.
Instamart will achieve an annualised GMV (gross merchandise value) run rate of USD 1 billion in the next three quarters, continuing to lead the emerging quick commerce grocery space. Pic: Reuters, https://www.swiggy.com/