附近上门

India-based food-delivery company is preparing for an IPO,

The company, which was most recently valued at $10.7 billion, has hired bankers for the deal, including and, per the report.聽

Swiggy aims to compete with India-based , which went public in the summer of 2021 after raising more than $2.1 billion in funding. It鈥檚 unclear whether Swiggy is exploring an IPO based in India or on an international exchange like the or .

Venture-backed companies in the food-delivery space raised more than $11 billion last year globally, up from around $8.5 billion in 2020, according to 附近上门 data. Companies such as saw a boost in business during the pandemic, given that many people stayed at home and ordered food online while restaurants were closed.

Food-delivery companies have been popular investments over the years, but many based in the United States have faced some sort of consolidation. DoorDash and are the major publicly traded companies with sub-brands including and . acquired after the latter explored an IPO, and the ride-share company also operates the food-delivery service UberEats.

As for Swiggy, the company has raised nearly $5 billion in funding, most recently with a $700 million round in January. It鈥檚 backed by investors including聽 and .

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