AZB & Partners and Khaitan & Co advise investors on Swiggy's funding
The Indian food delivery giant intends to increase its chain of online convenience stores
By : Legal Era
Update: 2022-02-17 13:00 GMT
AZB & Partners and Khaitan & Co advise investors on Swiggy's funding
The Indian food delivery giant intends to increase its chain of online convenience stores
Law firms AZB & Partners and Khaitan & Co have advised investors in the Indian online food-delivery platform Swiggy's latest $700 million funding round.
The funds will be used by Swiggy to expand its on-demand grocery service Instamart. The investors included Ghisallo Master Fund (represented by AZB), Axis Growth Avenue AIF-I (counseled by Khaitan), Baron Capital Group, Sumeru Venture, India Infoline Limited, Kotak, Alpha Wave Global and Qatar Investment Authority.
Instamart, which operates in 19 cities across India, is now competing with Tata-owned BigBasket, Reliance Industries' JioMart, Blinkit (formerly Grofers) and Amazon Fresh.
While partners Vineet Shingal and Tanushree Bhuwalka led the Khaitan team, partner Ankit Tandon represented the AZB group.