Invesco Slashes Swiggy’s Valuation By 25% To $8 Bn

Invesco Slashes Swiggy’s Valuation By 25% To $8 Bn

SUMMARY

Invesco pegged Swiggy at $8 Bn in the quarter that ended September 2022, down from $10.7 Bn in the previous quarter

The markdown came months after Invesco led a $700 Mn round in the foodtech major at a valuation of $10.7 Bn

The development piled up on a heavy day for Swiggy, which also saw its grocery vertical Instamart’s head Karthik Gurumurthy stepping down

Months after investing in Swiggy, US-based investor Invesco has reportedly marked down the valuation of the foodtech major by more than 25% to $8 Bn.

As per regulatory documents seen by TechCrunch, Invesco pegged Swiggy at $8 Bn in the quarter that ended September 2022, down from $10.7 Bn in the previous quarter. The markdown came months after Invesco led a $700 Mn round in the foodtech major at a valuation of $10.7 Bn. 

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