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Prosus leads R18-billion investment in India’s Swiggy

Published: 2021-07-20 08:16 +02:00 by Duncan McLeod tag: investment

JSE:PRX JSE:NPN JSE:AVI

Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.




Naspers-controlled consumer Internet investment group Prosus is leading an R18.2-billion funding round in Indian food-delivery giant Swiggy. Japan’s SoftBank Group is a co-investor in the round.
The US$1.25-billion fundraise also includes other new and existing investors.
“Founded in 2014, Swiggy is leading the hyperlocal delivery market in India, connecting consumers to over 150 000 restaurant partners and stores in over 500 cities,” Prosus said in a statement on Tuesday.
Swiggy will enhance its capabilities in technology and AI, and strengthen teams across engineering, product, data science and analytics…
“Its instant grocery delivery service, Instamart, is growing rapidly to create the convenience grocery category within India’s massive grocery delivery segment. Swiggy has also expanded its pick-up and drop service, Swiggy Genie, to 65 cities and deepened the presence of its meat delivery service in key markets.”
The latest investment will accelerate Swiggy’s strategy of growing its core food-delivery business and building new food and non-food offers, Prosus said.
Technology
“To support this, Swiggy will enhance its capabilities in technology and AI, and strengthen teams across engineering, product, data science and analytics as well as in business and supply chain for its newer initiatives.”
Prosus said the latest fundraise was “heavily oversubscribed”. The Amsterdam-listed group made its first investment in Swiggy in 2017.  — © 2021 NewsCentral Media
 





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Nothing on this website should be considered an offer, solicitation of an offer, or advice to buy or sell securities.
Past performance is no guarantee of future results. Any historical returns, expected returns [or probability projections] are hypothetical in nature and may not reflect actual future performance.
All the strategies assume investments in equity invstrumenta only and are more relevant for "agressive investment profile". Eastern European flagship strategy assumes using up to 20% leverage of total portfolio. GlobalCommodities and US Growth strategy currently assume no leverage.
Results for the Enhanced Investments strategies as compared to the performance of Illustrative Benchmarks is for informational purposes only. Our investment program does not mirror that of the Illustrative Benchmarks and the volatility may be materially different from the volatility of Illustrative Benchmarks. Reference or comparison to an Illustrative Benchmark does not imply that strategies of Enhanced Investments will be constructed in the same way as the Illustrative Benchmark or achieve returns, volatility, or other results similar to those of the Illustrative Benchmark. The S&P 500 is an unmanaged market capitalization-weighted index of 500 common stocks chosen for market size, liquidity, and industry group representation to represent U.S. equity performance.
Performance results were prepared by Enhanced Investments, and have not been compiled, reviewed or audited by an independent accountant. Performance estimates are subject to future adjustment and revision. Investors should be aware that a loss of investment is possible. Account holdings are for illustrative purposes only and are not investment recommendations. Additional information, including (i) the calculation methodology; and (ii) a list showing the contribution of each holding to the portfolio’s performance during the time period will be provided upon request.
All statements made via social media sites sponsored or maintained by Enhanced Investments and its affiliates are for informational purposes only and do not constitute a comprehensive description of Enhanced Investments' investment advisory services.
Certain investments are not suitable for all investors. Before investing, consider your investment objectives and applicable fees. The rate of return on investments can vary widely over time, especially for long term investments. Investment losses are possible, including the potential loss of all amounts invested. Information provided by Enhanced Investments is for informational and general educational purposes only and is not investment or financial advice.

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