India’s biggest e-commerce company, Flipkart, is set to invest $50 million into Bengaluru-based food delivery firm Swiggy. The duo has been in conversation over the latest round of funding for the last month, and an end to the discussion is in sight, according to three people with knowledge of the deal.
Tencent is also keen on investing in the foodtech company and may follow Flipkart in this deal, which will take the round size to $100 million.
Swiggy has raised $156 million so far. Just behind Zomato, which has raised at least $223 million.