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Online food delivery startup Swiggy has raised $1 billion in a fresh round of funding led by South African technology conglomerate Naspers, marking one of the single-largest infusions into an Indian startup.
This round also received contributions from new investors including Chinese conglomerate Tencent, Hillhouse Capital and Wellington Management Company.
Apart from Naspers, existing investors who participated in the round included DST Global, Meituan Dianping and Coatue Management, reported VCCircle.
Shardul Amarchand Mangaldas acted for Swiggy and the team was led by Partner Siddharth Nair along with Senior Associate Asmita Mishra and Associates Ankita Misra Ritwik Mukherjee and Jonathan George.
Nishith Desai Associates and Gunderson Dettmer acted for Naspers. The Gunderson team was led by Partner Jonathan Pentzien.
L&L Partners advised Tencent Holdings along with international counsel Latham and Watkins. The L&L team was led by Partner Vaibhav Kakkar along with Managing Associates Snigdhaneel Satpathy and Sumithra Suresh, Senior Associate Rishabh Shah and Associate Tanaya Sanyal.
L&L Partner Lokesh Shah and Managing Associate Mayank Agarwal assisted in the taxation aspects of the transaction.