附近上门

As we ramp up to slow down for the holiday season, let鈥檚 talk about who has picked up more venture dollars.

One of India鈥檚 leading food delivery companies, , scored a $1 billion round led by South Africa-based with participation from a new investor, China鈥檚 , among others. Months ago, the company was with Tencent to raise capital in the face of growing competition with Zomato, India鈥檚 other delivery competitor. Naspers dedicated $660 million to the round.

The round brings Swiggy鈥檚 total known funding to nearly $1.5 billion, according to . It is now valued at $3.3 billion, , up from $1.31 billion in June following a also led by Naspers along with DST Global.

In October, Zomato of its own from Alipay Singapore鈥攖he Singapore branch of Ant Financial鈥攋ust months after Ant Financial itself invested $200 million. The company has raised a known total of nearly $654 million, according to 附近上门. It was last valued at just over $2 billion.

The enthusiasm on the part of the Alibaba-affiliate and Tencent could be driven by their strategic interest in gathering more of the growing payment market in India鈥檚 emerging economy. Similar efforts have been made in Southeast Asia among ridesharing companies Grab and Go-Jek. We鈥檒l wait to see how long this venture competition lasts, particularly if a global market correction is in our future. For now, Swiggy has a bit more to work with.