Swiggy's Valuation Soars to $12.7 Billion

Swiggy, the Bengaluru-based food delivery decacorn, has seen its valuation skyrocket to $12.7 billion, thanks to a markup by US investor Invesco. This marks the second time Invesco has increased Swiggy's value, making it the third overall markup for the company. The 18% jump from its last equity round in January 2022 sets the stage for Swiggy's upcoming IPO. With revenue of Rs 5,476 crore and losses of Rs 1,600 crore in the first three quarters of FY24, Swiggy is gearing up for a public debut. In a trend of valuation markups, Swiggy joins the ranks of Meesho, PineLabs, FirstCry, and Ola Electric, all eyeing public offerings in the near future.