SoftBank to invest $400-500 mn in Swiggy; swipes left on Zomato

The Japanese investor finally decides whom to back in the Indian food delivery space after flirting with both Swiggy and Zomato for nearly four years



Madhav Chanchani

Aditi Shrivastava

April 15, 2021

5 Min Read

{The Crux brings you crisp and incisive analysis on the developments that matter. It’s a free read.}

SoftBank has a presence across almost all high-profile startup sectors in India—hospitality, mobility, fintech, logistics, eyewear, and even baby products—but food delivery has always eluded it. Not for want of trying or a lack of opportunities, but SoftBank hadn’t been able to make up its mind about the sector or the two giants occupying it—Swiggy and Zomato. In the end, it decided to back the one with more than just food delivery chops.

SoftBank Vision Fund has now issued a term sheet to invest $400-500 million in Swiggy at a valuation slightly above $5 billion, said four people directly briefed on the matter. The deal is expected to be announced in 3-4 weeks.

The investment will be an extension of Swiggy’s recent $800 million fundraise from Falcon Edge, Amansa Capital, Think Investments, Carmignac, Qatar Investment Authority and Goldman Sachs, in which the company was valued at $4.9 billion.

Join now to continue reading

Sign in using


Sign in using your email

Don't have an account?

Forgot Password?

By signing up for The CapTable you agree to the

Terms of Service


Privacy Policy

of the platform.

Smart Information, Better Decisions

We report on the latest and most important developments in India’s biggest tech companies and disruptive startups so you can make better decisions.

Inside View with Org Charts

Know the key decision-makers with Org Charts. We thrive on decoding boardroom conversations so we can bring you a 360° view of what's happening at India's high-growth companies.

Seasoned Team

Tracking the highs and lows of India’s biggest internet companies over the past decade has given us access to the right decision-makers to interpret the latest state of play.

Inside View

We thrive on inside scoops and decoding boardroom conversations so we can bring you a 360° view of what’s happening at India’s high-growth companies.


For subscribers only

Premium Reads


View More >>

Deeply reported and objective news on the country´s fastest-growing companies and the people behind them.