Since then, Chinese giants like Meituan-Dianping, Tencent Holdings and Hillhouse Capital Group have invested an estimated more than $500 million. China’s Tencent in talks for significant investment in Swiggy. Other investors included Harmony Partners, RB Investments etc. The company caters to over 10 million customers across 25 cities. Like us on Facebook and follow us on Twitter. Earlier this month, Swiggy raised $43 million in a funding round amid reports of food delivery companies in India facing a plunge ... Chinese investors have come in the form of both corporates such as Alibaba and Tencent and pure-play investment firms such as Shunwei Capital and Hillhouse Capital. Apart from Naspers, existing investors who participated in that round included DST Global, Meituan Dianping and Coatue Management. If we talk about overall Chinese ownership, both Alibaba and SAIF Partners together own about 60% of Paytm. Founded by Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Sudhakar in 2011, BigBasket is one of India’s largest online food and grocery store offering over 60,000 products from 1,000 brands. “Over the last financial year, these four key institutional investors have been steadily divesting a portion of their holdings in Swiggy to incoming investors during successive high-value financing rounds,” Vivek Durai, Founder, Paper.vc told Financial Express Online. While taking a closer look, you realize that 18 out of 30 Indian startup unicorns are funded by China. Like most Indian unicorns, Ola has raised a lot of the funds from foreign investors to support its goals. Chinese investors have been a part of Swiggy’s journey since its early days. In order to grow at such a pace and compete with the likes of Flipkart and Amazon, Snapdeal had to raise a lot of funds. However, this was not always the case for Snapdeal, like its competitors Flipkart and Amazon, Snapdeal was also caught up in the frenzy of gaining more market share and increasing its revenues by focusing on the gross merchandise value (GMV). Till date, Paytm’s parent company One97 has raised a total of $4.4 billion and according to Crunchbase data, more than $900 million comes from the Alibaba Group. A lot of early grocery delivery startups have either failed or had to pivot just to survive. Recognizing the toll of millions of vehicles on the environment, the company has also started its latest venture Ola Electric which aims to bring 1 million electric vehicles on the roads by 2021. Saif Partners made the highest return of Rs 438 crore. The reason for growing foreign investment and more importantly Chinese investment in Indian startups is simple. However, next year is when Chinese conglomerate Tencent Holdings and investment firm Hillhouse Capital bought a stake in Udaan and helped the company raise even bigger funding round bringing in $585 million. Swiggy and Zomato are in talks with at least three new investors each to raise more capital, the people said. Swiggy competes with Zomato was reportedly valued at $3 billion following its recent $150 million fundraise from Alibaba’s fintech arm Ant Financial. Meituan-Dianping, a Chinese food-to-flights startup, is quietly increasing its exposure to India. Chinese investors have been a part of Swiggy’s journey since its early days. Swiggy Investments & Acquisitions (5) Company Name Deal Date Deal Type Deal Size Industry Lead Partner; 0000000 (0000 0000: 07-Apr-2020: 00000 00000 00: 000.00: Food Products: 00000 000000: 0000: 04-Feb-2019: 000000000000000000: Multimedia and Design Software: 00000 0000000: 0000000: 01-Aug-2018: 000000000000000000 : 000: Business/Productivity Software: 000000000 000000: 0000 … Despite partial stake sale Accel, Saif and NVP are the second, third, and fourth biggest shareholders in Swiggy with 7.99 per cent, 7.21 per cent, and 6.25 per cent respectively. In February 2019, Swiggy acquired Bengaluru-based AI startup Kint.io. CAIT Seeks Probe Into Chinese Investors Of Zomato, Paytm, BYJU’S, Swiggy Among 141 Indian Startups Copyright © 2020 - Sorting Hat Media Networks Private Limited, 18 out of 30 Indian startup unicorns are funded by China, Flipkart’s growth from an online bookstore to a full-fledged e-commerce company, MHRD announces Addition of 4 Kendriya Vidyalayas, Covid-19 aftermath : Tata Motors to remove 1,100 jobs from Jaguar Land Rover (JLR) to save money. At the time, online shopping was not as common as it is now and in a sense, Flipkart’s growth from an online bookstore to a full-fledged e-commerce company is synonymous with the adoption of online shopping in India. Since then Alibaba has made a couple more investments in BigBasket. Lists Featuring This Company . india china border dispute New India under China's watch: 1400 companies including Paytm, Zomato, Swiggy monitored. Swiggy has over 1.6 lakh restaurant partners across over 500 cities and has a delivery fleet of more than 2.25 lakh active delivery partners. For the most part of their early days, Zomato’s growth was funded by Indian online giant Info Edge. Naspers and Tencent-backed food delivery and discovery platform Swiggy’s earlier and existing investors — Saif Partners, Norwest Venture Partners, Bessemer Venture Partners, Accel Partners and more have been able to make returns worth Rs 1,597 crore ($225 million) by selling parts of their stakes in successive secondary fundraising rounds the company had during FY19, data showed. Asia Startups Founded in 2014 . Alibaba became BigBasket largest shareholder when it helped the company raise $300 million in its series E round in 2018. Get live Stock Prices from BSE, NSE, US Market and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Till date, OYO has raised $3.2 billion from its investors with Japan’s Softbank being its majority stakeholder with 48% ownership. India does not have global tech giants like Alibaba, Google, Microsoft, Tencent or Facebook that can invest millions of dollars that are required by Indian startups to grow. Earlier in 2018, Tencent Holdings became its first Chinese investor when it invested $100 million into the company. Bleak future for Indian start-ups funded by Chinese investors. Founded by Bhavish Agarwal and Ankit Bhati in 2010, Ola aims to build mobility solutions for a billion people. This startup with no CEO became one of the fastest to join the coveted unicorn club after it raised $225 million in its series C round from DST Global and Lightspeed India Partners in 2018. SIGNALLING A clear investment shift in the food business, money pumped in by Private Equity (PE) and Venture Capital (VC) players in just two online platforms — Zomato and Swiggy — was merely $143 million less than what was invested in the country’s organised restaurant segment over the last five years. We have a sold a small percentage of our stake as secondary in Swiggy. Fosun's investments include logistics firm Delhivery, payments startup Dot and … That is a considerable investment considering that till date, Snapdeal has raised a total of $1.8 billion. According to experts, this will have major impact on new investments by Chinese players in … The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. Track . Other Chinese investors in Ola include China Eurasian Economic Cooperation Fund and Sailing Capital. New Delhi: Chinese internet giant Tencent Holdings Ltd has held talks with several investors to raise $500-700 million for online food-delivery platform Swiggy, the biggest cheque in India’s food-technology sector, reported the Economic Times citing people aware of the development.The fresh investment, if finalised by December, could value Swiggy at $2.5-3 billion. Their technology platform helps small businesses to grow their business by discovering new buyers and sellers offering competitive prices for their products, providing access to capital, new markets, low-cost and reliable logistics and secure payment solutions. Till date, BigBasket has raised over $1 billion and most of which has come from foreign investors. However, Swiggy founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini made modest returns of Rs 7.1 crore each during FY19. However, Alibaba’s financial services company Ant Financial became a stakeholder in Zomato in 2018 with an investment of $200 million. Also read: Amid OYO’s mass layoffs, founder Ritesh Agarwal explains firings; FULL TEXT of letter to staff. Lottery to be taken as ‘goods’ for the purposes of GST:... Philippines considering making immigration tougher for Chinese nationals due to gambling... Legalize and regulate gambling in India: MoS Finance Anurag Thakur. How Sushmita Sen broke stereotypes & inspired others. Accel Partners couldn’t be reached. In merely six years, Swiggy now has more than 1,40,000 restaurants on its platform serving 20 million customers in over 500 cities across India. Nearly 70% of the new investment … Experience Swiggy's superfast delivery for food delivered fresh & on time Restaurants in your pocket Order from your favorite restaurants & track on the go, with the all-new Swiggy app. Prior to this, Zomato had raised $150 Mn funding at almost the same valuation from existing investor Ant Financial, which is an affiliate of Chinese ecommerce major Alibaba. Zomato, swiggy have to keep away from Chinese investors and try to keep their companies totally Indian. IN THE SPOTLIGHT . Pratik Bhakta While they already had foreign investors, the company went looking for more funds and new investors in 2015 and that’s when Chinese investors Alibaba Group and Foxconn Technology Group found an opportunity to lead a $500 million funding round. However, Swiggy founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini made modest returns of Rs 7.1 crore each during FY19. For instance, early investors Harmony Partners and RB Investments continue to be on the cap-table even as “only in 2019 did Prosus (Naspers) managed to increase its holding to 38.82 per cent.,” said Durai. Swiggy received $100 million from China-based Meituan-Dianping and Naspers in 2018 and a string of investments boosted the company's valuation to over a $1 billion. Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin in 2014 and is headquartered in Bangalore, Karnataka, India. Chinese technology giant Alibaba owns over 40% stake in Paytm. We continue to be bullish on Swiggy’s long term prospects and believe the company continues to have significant potential to grow from here,” Niren Shah, MD and Head of India, Norwest Venture Partners India told Financial Express Online. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. Bengaluru: Online food delivery orders for Zomato and Swiggy have dropped 70% in the last 10 days to under 1 million a day, as customers step back and top restaurants shut shop amid a lockdown induced by the Covid-19 virus outbreak, said investors, companies and restaurants to ET. NHPC to commission 2,000 MW hydropower project on Subansiri by March 2022, PNB to hold roadshow for proposed Rs 7,000 crore QIP next week, Follow compliance norms to get tax benefits: CBIC chief tells traders, Govt proposes next meeting on December 9; seeks time from farmer unions for concrete proposal, Centre not doing enough to revive economy amid COVID-19 crisis: Amit Mitra, BJP would have won more than 100 seats if there was more time for campaign: Telangana BJP president, India has extraordinary history of bringing out successful vaccines: K VijayRaghavan, Jharkhand opts in, all states accept Centre's borrowing plan for GST shortfall, Religare case: High Court stays trial court direction to REL ex-CMD to surrender in two days, TRS may need support of others to win GHMC Mayoral election, Copyright © Founded by Kunal Bahl and Rohit Bansal in 2010, Snapdeal is a value-focused online marketplace offering products required by the people who are coming online for the first time. Govt should amend rules accordingly. Earlier this year, Zomato further strengthened its position in food delivery space by acquiring UberEats in India. Comments from Swiggy, Saif, Bessemer, and Naspers, will be updated as and when received. Largest shareholders in Swiggy, Zomato. Ola is doing this through its ride-hailing platform that connects over 1.5 million drivers with millions of customers serving more than a billion rides every year across 250 cities in India and also countries like Australia, New Zealand, and the UK. (Photographer: Dhiraj Singh/Bloomberg) Food ordering platform Swiggy on Monday announced a secondary liquidity programme for its employees who were part of the employee stock ownership plan (ESOP) of the company. It was later rebranded as Zomato in 2010 and started food its delivery service in 2015. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. 2020The Indian Express [P] Ltd. All Rights Reserved. Swiggy has over 1.6 lakh restaurant partners across over 500 cities and has a delivery fleet of more than 2.25 lakh active delivery partners. Even though Walmart owns 81% of Flipkart, there are still Chinese investors who own minority stakes in the company. Founded by former Flipkart employees Sujeet Kumar, Vaibhav Gupta and Amod Malviya in 2016, Udaan offers a technology platform that connects traders, retailers, wholesalers and manufacturers on a single platform. While Vijay is the man behind Paytm, he currently owns less than 20% of his own company. OYO has more than 43,000 hotels in its portfolio with over 1 million rooms across 800 cities across 80 countries. First Chinese investment in Ola came from Steadview Capital in 2014. According to media reports, Ant Financial owns over 20% stake in Zomato, making it one of the largest stakeholders in the company. Some of Swiggy’s existing investors include DST Global, China’s Meituan Dianping and Coatue Management. Online grocery delivery is one of the toughest markets to crack as it has low margins and high churn rates. Tencent Holdings joined Naspers in a US$1 billion investment in Indian food delivery service Swiggy, which gains a potentially valuable ally in China’s largest social media and gaming company. Swiggy may raise as much as $200 million, one of the people said. The data shared by business signals platform Paper.vc revealed that Saif Partners made the highest return of Rs 438 crore ($61 million) followed by Rs 401 crore ($56 million) earned by Norwest, $312.8 crore ($44 million) secured by Bessemer, and Rs 178.8 crore ($25 million) by Accel Partners by offloading parts of their stakes. While earlier press reports had speculated on the conclusion of large secondary transactions but the latest filings vary in certain details. It is evident that China has been playing an active role in India’s startup ecosystem for the last 4-5 years. Chinese investors have pumped in an estimated $4 billion into India’s tech startups which includes bets on 18 out of the country’s 30 unicorns, according to a Gateway House report. Till date, Swiggy has raised a total of $1.6 billion across multiple rounds. In 2018, a $100 million funding was received by Swiggy from Chinese Shopping Platform- Meituan-Dianping and existing investor Naspers and small investments that followed that year led the company’s valuation to over $1 Billion, making Swiggy a member of the prestigious Unicorn Club. Today Paytm is more than just a fintech company. Related; Most Read; Most Shared; Food delivery recovery at pre-Covid levels: Zomato; Zomato makes its takeaway service available to … Rahul Jaimini, one of the co-founders of Swiggy who hung his boot at the foodtech major earlier this month, holds a 2% stake in the company Let’s take at 10 Indian unicorn startups that have raised Chinese investment over the last couple of years: https://www.youtube.com/watch?v=qNNB1lIHHg4. With 80 million users, Dream11 has emerged as India’s largest fantasy gaming platform. Read More. With the changes in India’s foreign direct investment (FDI) policy and PM Modi’s call for going ‘vocal for local’, it is worth introspecting the scale of Chinese investment in Indian startups. Text of letter to staff of large secondary transactions but the latest filings vary in certain details some of ’! $ 400 million, the people said foreign investors to support its goals active... 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