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Invesco slashes Swiggy's initial valuation by 50% to $5.5 B
Atlanta-based investment firm Invesco has cut the valuation of foodtech Unicorn Swiggy once again. Invesco's filings as of January 31, 2023, reveal that the firm holds 28,844 shares of Swiggy at a value of USD 3,305.7 apiece. This brings Swiggy's valuation to around USD 5.5 Billion, marking a 50% decline from the initial USD 10.7 Billion. Invesco valued Swiggy at USD 10.7 Billion when it led its USD 700 million funding round in January 2022. It marked down Swiggy's valuation to USD 8 Billion in October 2022, valuing its shares at USD 4,759 each.
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Venture Intelligence (TSJ Media Pvt. Ltd.)
1, Maharani Chinnamba Road; Alwarpet; Chennai - 600018. India.