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Baron Capital of the US increases Swiggy’s value to $12.16 billion

<p>US-based Baron Capital has raised the value of Swiggy, an online meal delivery service headed for an IPO, to $12.16 billion, surpassing the $10.7 billion post-money valuation at which the business obtained investment at the beginning of 2022.</p>
<p><img decoding=”async” class=”alignnone wp-image-492109″ src=”×500.jpg” alt=” baron capital of the us increases swiggys value to 12 16 billion swiggy” width=”997″ height=”666″ title=”Baron Capital of the US increases Swiggy's value to $12.16 billion 6″ srcset=”×500.jpg 750w,×683.jpg 1024w,×512.jpg 768w, 1200w” sizes=”(max-width: 997px) 100vw, 997px” /></p>
<p>TechCrunch on Friday revealed that Baron Capital has raised the amount of its investment in Swiggy to $87.2 million from its initial $76.7 million investment in the firm in its latest filings.</p>
<p>“Swiggy commands roughly 45 per cent market share in the Indian food delivery sector and is well positioned to benefit from structural growth in online food delivery in India,” the investment company said in a separate filing.</p>
<p>“We think the food delivery sector in India is still in its early stages and will keep expanding over the coming years due to factors like an expanding middle class, increasing disposable income, increased smartphone usage, and structural changes in consumer preferences brought about by younger, tech-savvy consumers,” the statement continued.</p>
<p>Swiggy’s fair value was further discounted by 10% by Baron Capital the previous year.</p>
<p>As a consequence, as of March 31, 2023, the company’s value is projected to reach $6.5 billion. The US-based investment firm Invesco increased Swiggy’s value to almost $8.3 billion earlier this year. The worldwide asset management organization raised Swiggy’s valuation for the second time in a row.</p>
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