Invesco Cuts Swiggy's Valuation To $5.5 Bn

According to media reports, Invesco has cut Swiggy's valuation to USD 5.5 billion. According to TechCrunch, this would be the second such transfer this year. According to regulatory findings, the US-based investment management firm reduced the value of its Swiggy ownership to USD 8 billion from USD 10.7 billion last month.

Swiggy's latest valuation is 48.6 peer cent lower than in January of last year, when it became a decacorn after raising USD 700 million in a funding round. Invesco, Baron Capital Group, Sumeru Venture, IIFL AMC's late stake tech fund, Kotak, Qatar Investment Authority, and others were among the investors who helped Swiggy become one of India's most valuable firms.