Hong Kong-based SAIF Partners was the first company along with US-based Accel to invest $2 million in its first institutional funding round in 2015. Fast forward to today, OYO is not only India’s leading hotel chain but it has expanded its presence globally in the last eight years. Earlier this year, Zomato further strengthened its position in food delivery space by acquiring UberEats in India. First Chinese investment in Ola came from Steadview Capital in 2014. Since then, Chinese giants like Meituan-Dianping, Tencent Holdings and Hillhouse Capital Group have invested an estimated more than $500 million. In April 2020, Swiggy received around $43 million funding which valued the company at $3.6 billion. It was later rebranded as Zomato in 2010 and started food its delivery service in 2015. order from your favorite restaurants & track on the go with swiggy. However, next year is when Chinese conglomerate Tencent Holdings and investment firm Hillhouse Capital bought a stake in Udaan and helped the company raise even bigger funding round bringing in $585 million. Chinese internet giant Tencent has joined a queue of global investors eyeing shares in India’s online food ordering and delivery giant Swiggy. Even though Walmart owns 81% of Flipkart, there are still Chinese investors who own minority stakes in the company. Govt should amend rules accordingly. View company info, jobs, team members, culture, funding and more. Meituan-Dianping, a Chinese food-to-flights startup, is quietly increasing its exposure to India. Among the investors who have bought stakes in the company through these secondary transactions were Naspers, Tencent, Hillhouse, Coatur, DST, Wellington Management and China’s delivery platform Meituan Dianping. (This story was updated with Norwest’s comments). However, Swiggy founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini made modest returns of Rs 7.1 crore each during FY19. The data shared by business signals platform Paper.vc revealed that Saif Partners made the highest return of Rs 438 crore ($61 million) followed by Rs 401 crore ($56 million) earned by Norwest, $312.8 crore ($44 million) secured by Bessemer, and Rs 178.8 crore ($25 million) by Accel Partners by offloading parts of their stakes. Copyright © 2020 - Sorting Hat Media Networks Private Limited, 18 out of 30 Indian startup unicorns are funded by China, Flipkart’s growth from an online bookstore to a full-fledged e-commerce company, MHRD announces Addition of 4 Kendriya Vidyalayas, Covid-19 aftermath : Tata Motors to remove 1,100 jobs from Jaguar Land Rover (JLR) to save money. This is the reason why a majority of Snapdeal’s orders come from tier 2 and tier 3 cities. The report claimed that those targeted also include venture capitalists, angel investors, founders and chief technology officers of the country’s promising startups and e-commerce platforms, and foreigner investors based in India. With 80 million users, Dream11 has emerged as India’s largest fantasy gaming platform. Swiggy may raise as much as $200 million, one of the people said. Click here to join our channel and stay updated with the latest Biz news and updates. OYO has more than 43,000 hotels in its portfolio with over 1 million rooms across 800 cities across 80 countries. Hong Kong-based SAIF Partners was the first company along with US-based Accel to invest $2 million in its first institutional funding round in 2015. Till date, Paytm’s parent company One97 has raised a total of $4.4 billion and according to Crunchbase data, more than $900 million comes from the Alibaba Group. Today Paytm is more than just a fintech company. While earlier press reports had speculated on the conclusion of large secondary transactions but the latest filings vary in certain details. Later in the same year, Ant Financial invested another $210 million. The Chinese company was one of several investors that just contributed to a $1 billion round of funding for Indian food delivery app Swiggy. Lists Featuring This Company . Online grocery delivery is one of the toughest markets to crack as it has low margins and high churn rates. Till date, Ola has raised $3.8 billion from its investors. Founded by Bhavit Sheth and Harsh Jain in 2008, Dream11 is a fantasy gaming platform that enables users to play fantasy games like cricket, football, basketball and hockey. Till date, OYO has raised $3.2 billion from its investors with Japan’s Softbank being its majority stakeholder with 48% ownership. Saif Partners made the highest return of Rs 438 crore. Recognizing the toll of millions of vehicles on the environment, the company has also started its latest venture Ola Electric which aims to bring 1 million electric vehicles on the roads by 2021. However, Alibaba’s financial services company Ant Financial became a stakeholder in Zomato in 2018 with an investment of $200 million. Founded by an 18-year-old college drop-out Ritesh Agarwal in 2012, OYO started as Oravel Stays by adopting Airbnb’s concept but after Ritesh’s stint at Thiel Fellowship, he pivoted to aggregating budget hotels which had a bigger market opportunity in India leading to the birth of OYO in 2013. Swiggys top investors earn Rs 1660 crore by selling partial stakes Naspers top shareholder, Chennai start-up Agnikul inks agreement with Isro to help develop launch vehicle, Over 50 unicorn startups expected in India by 2022: Official, E-commerce order volume up 56% year-on-year this festive season: Unicommerce report, Sun Pharmaceutical Industries Share Price, This website follows the DNPA’s code of conduct. Swiggy has over 1.6 lakh restaurant partners across over 500 cities and has a delivery fleet of more than 2.25 lakh active delivery partners. Recent product launches. Naspers had a maximum stake of 38.82 per cent. Despite partial stake sale Accel, Saif and NVP are the second, third, and fourth biggest shareholders in Swiggy with 7.99 per cent, 7.21 per cent, and 6.25 per cent respectively. Dream11 became a unicorn after it raised an undisclosed amount of funds from the Chinese asset management firm Steadview Capital in 2019. Prior to this, Zomato had raised $150 Mn funding at almost the same valuation from existing investor Ant Financial, which is an affiliate of Chinese ecommerce major Alibaba. Track . Founded by Abhinay Choudhari, Hari Menon, Vipul Parekh, VS Sudhakar in 2011, BigBasket is one of India’s largest online food and grocery store offering over 60,000 products from 1,000 brands. Financial Express is now on Telegram. Ola is doing this through its ride-hailing platform that connects over 1.5 million drivers with millions of customers serving more than a billion rides every year across 250 cities in India and also countries like Australia, New Zealand, and the UK. In merely six years, Swiggy now has more than 1,40,000 restaurants on its platform serving 20 million customers in over 500 cities across India. How Sushmita Sen broke stereotypes & inspired others. The first half of 2020 saw investors including SoftBank and Naspers leading large rounds of funding in unicorn companies even as OYO, Swiggy, Postman, … Chinese tech giant Tencent Holdings said it will step up its investment overseas and in industries such as "smart retail", having already invested in more than 800 companies. While they already had foreign investors, the company went looking for more funds and new investors in 2015 and that’s when Chinese investors Alibaba Group and Foxconn Technology Group found an opportunity to lead a $500 million funding round. The Indian food delivery startup Swiggy has raised $100 million in its latest round of funding. Other Chinese investors in Ola include China Eurasian Economic Cooperation Fund and Sailing Capital. Founded by Sachin and Binny Bansal, Flipkart was started as an online bookstore back in 2007. China’s Tencent in talks for significant investment in Swiggy. Despite … Bengaluru: Online food delivery orders for Zomato and Swiggy have dropped 70% in the last 10 days to under 1 million a day, as customers step back and top restaurants shut shop amid a lockdown induced by the Covid-19 virus outbreak, said investors, companies and restaurants to ET. New Delhi: Chinese internet giant Tencent Holdings Ltd has held talks with several investors to raise $500-700 million for online food-delivery platform Swiggy, the biggest cheque in India’s food-technology sector, reported the Economic Times citing people aware of the development.The fresh investment, if finalised by December, could value Swiggy at $2.5-3 billion. Let’s take at 10 Indian unicorn startups that have raised Chinese investment over the last couple of years: https://www.youtube.com/watch?v=qNNB1lIHHg4. Till date, BigBasket has raised over $1 billion and most of which has come from foreign investors. Founded by Vijay Shekhar Sharma in 2010, Paytm started as online recharge platform for prepaid mobile, DTH and data card with an initial investment of $2 million from the founder himself. India does not have global tech giants like Alibaba, Google, Microsoft, Tencent or Facebook that can invest millions of dollars that are required by Indian startups to grow. Founded by Bhavish Agarwal and Ankit Bhati in 2010, Ola aims to build mobility solutions for a billion people. It is evident that China has been playing an active role in India’s startup ecosystem for the last 4-5 years. Founders Majety, Jaimini, Reddy have 5.82 per cent, 2.10 per cent, and 2.63 stakes respectively. The data shared by business signals platform Paper.vc revealed that Saif Partners made the highest return of Rs 438 crore ($61 million) followed by Rs 401 crore ($56 million) earned by Norwest, $312.8 crore ($44 million) secured by Bessemer, and Rs 178.8 crore ($25 million) by Accel Partners by offloading parts of their stakes. Founded by Sriharsha Majety, Nandan Reddy and Rahul Jaimini in 2014, Swiggy started its operations as a hyperlocal food delivery platform by partnering up with a few restaurants in Bengaluru. Chinese technology giant Alibaba owns over 40% stake in Paytm. Accel Partners couldn’t be reached. Swiggy was founded by Sriharsha Majety, Nandan Reddy, and Rahul Jaiminiin in 2014 and is headquartered in Bangalore, Karnataka, India. A lot of early grocery delivery startups have either failed or had to pivot just to survive. From Paytm, Flipkart to Swiggy, big Indian startups are stuffed with Chinese money Chinese companies are one of the biggest investors in India’s startup space. Naspers and Tencent-backed food delivery and discovery platform Swiggy’s earlier and existing investors — Saif Partners, Norwest Venture Partners, Bessemer Venture Partners, Accel Partners and more have been able to make returns worth Rs 1,597 crore ($225 million) by selling parts of their stakes in successive secondary fundraising rounds the company had during FY19, data showed. The company caters to over 10 million customers across 25 cities. The reason for growing foreign investment and more importantly Chinese investment in Indian startups is simple. If we talk about overall Chinese ownership, both Alibaba and SAIF Partners together own about 60% of Paytm. The final amount raised by the two companies may change because the talks are at an initial stage. In order to grow at such a pace and compete with the likes of Flipkart and Amazon, Snapdeal had to raise a lot of funds. At the time, online shopping was not as common as it is now and in a sense, Flipkart’s growth from an online bookstore to a full-fledged e-commerce company is synonymous with the adoption of online shopping in India. While taking a closer look, you realize that 18 out of 30 Indian startup unicorns are funded by China. Zomato may raise anywhere between $200 million and $400 million, the other two people said. Also, China holds control over other widely used foreign apps in India, as per the report published in March 2020. Swiggy and Zomato are in talks with at least three new investors each to raise more capital, the people said. Earlier in 2018, Tencent Holdings became its first Chinese investor when it invested $100 million into the company. Experience Swiggy's superfast delivery for food delivered fresh & on time Restaurants in your pocket Order from your favorite restaurants & track on the go, with the all-new Swiggy app. Largest shareholders in Swiggy, Zomato. india china border dispute New India under China's watch: 1400 companies including Paytm, Zomato, Swiggy monitored. We have a sold a small percentage of our stake as secondary in Swiggy. Bleak future for Indian start-ups funded by Chinese investors. For the most part of their early days, Zomato’s growth was funded by Indian online giant Info Edge. “Over the last financial yea. 2,930 Number of Organizations • $73.3B Total Funding Amount • 8,019 Number of Investors. Zomato, swiggy have to keep away from Chinese investors and try to keep their companies totally Indian. Swiggy received $100 million from China-based Meituan-Dianping and Naspers in 2018 and a string of investments boosted the company's valuation to over a $1 billion. Lottery to be taken as ‘goods’ for the purposes of GST:... Philippines considering making immigration tougher for Chinese nationals due to gambling... Legalize and regulate gambling in India: MoS Finance Anurag Thakur. Related; Most Read; Most Shared; Food delivery recovery at pre-Covid levels: Zomato; Zomato makes its takeaway service available to … We continue to be bullish on Swiggy’s long term prospects and believe the company continues to have significant potential to grow from here,” Niren Shah, MD and Head of India, Norwest Venture Partners India told Financial Express Online. The users can either play these fantasy games for free or win cash prizes while playing. You have entered an incorrect email address! View Comments Add Comments. In China, Tencent runs an instant messaging platform WeChat, which is an equivalent of WhatsApp, and a host of gaming apps and ecommerce businesses. Rahul Jaimini, one of the co-founders of Swiggy who hung his boot at the foodtech major earlier this month, holds a 2% stake in the company Swiggy had raised two rounds of funding in FY19 — $210 million around June by DST Global and Naspers along with its international investment unit Prosus and $1 billion in December by Prosus and Naspers during that valued the company at $3.3 billion. Other investors included Harmony Partners, RB Investments etc. However, Swiggy founders Sriharsha Majety, Nandan Reddy, and Rahul Jaimini made modest returns of Rs 7.1 crore each during FY19. While Vijay is the man behind Paytm, he currently owns less than 20% of his own company. According to media reports, Ant Financial owns over 20% stake in Zomato, making it one of the largest stakeholders in the company. 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