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Invesco increases Swiggy's valuation to $8.3 billion
source link: https://nextbigwhat.com/invesco-increases-swiggys-valuation-to-8-3-billion/
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Invesco increases Swiggy’s valuation to $8.3 billion
- Invesco has raised the valuation of foodtech company Swiggy to $8.3 billion, marking a consecutive increase over the past three months.
- Swiggy, which reached a peak value of $10.7 billion in January 2022, is planning an initial public offering (IPO) in 2024.
- Despite an 80% increase in losses to $545 million in FY23, largely due to investment in its grocery business, Swiggy aims to achieve profitability in its grocery delivery service by March 2024.
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