Invesco Cuts Swiggy’s Valuation Once Again, Marks Down To $5.5 Bn

Invesco Cuts Swiggy’s Valuation Once Again, Marks Down To $5.5 Bn

SUMMARY

Invesco marked down Swiggy’s valuation to $5.5 Bn as of January 31, 2023, from $8 Bn in October 2022

The investment firm valued the foodtech startup at $10.7 Bn in January last year when it invested in Swiggy

The valuation cut brings Swiggy’s valuation to a level similar to Zomato, which ended Monday’s trading session with a market cap of $5.45 Bn

Atlanta-based investment firm Invesco has cut the valuation of foodtech startup Swiggy once again, valuing it at $5.5 Bn as against $10.7 Bn in January last year, according to regulatory filings.

The move comes amid sinking valuations of top Indian startups as investors continue to take a cautious approach towards them. 

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