While Zomato IPO awaits listing , Swiggy delivers hot $1.25 billion fund raising from investors

Food tech giant Swiggy just got a big order from PE customers as it raises $1.25 billion. The funding round was led by SoftBank Vision Fundm, Prosus and saw new investors Goldman Sachs & Falcon Edge also get in for a bite into the food delivery market.

ALSO WATCH: Policybazaar IPO aims to raise Rs 6,500 crore likely to file DRHP in a week

As per a statement from Swiggy, the latest fundraising was heavily oversubscribed following strong interest from investors, the startup said without providing details or its market value.

The startup funding has soared with rival Zomato’s $1.3 billion initial public offering, Walmart backed Flipkart's $6.3 billion fund raising as well.

ALSO WATCH: Glenmark Life Sciences files RHP; could raise Rs 1,600 cr via IPO

As the market awaits Zomato's listing on July 27, Swiggy management remains quiet on it's plans for a debut and stated "IPOs are a sign of maturity of the ecosystem and we are excited to see the huge validation in the public markets for the category we are building.”

ALSO WATCH: 3-month old GlobalBees raises $150 million led by FirstCry