CURRENT AFFAIRS

Detailed explanation-1: -The latest capital infusion has nearly doubled Swiggy’s valuation to $10.7 billion, making it a decacorn, said two people aware of the deal details. A decacorn is a moniker for startups valued at over $10 billion. The company was valued at $5.5 billion earlier.

Detailed explanation-2: -75,000 crore. Swiggy joins the handful of Decacorns in India with its latest valuation of $10.7 billion derived from its $700 million round of funding.

Detailed explanation-3: -Food-delivery giant Swiggy has raised $700 million in Invesco-led new funding, which, according to sources, has made the outfit a decacorn, almost doubling its valuation to $10.7 billion.

Detailed explanation-4: -During the last quarter of FY22, Swiggy turned decacorn attaining a $10 billion valuation after raising a $700 million round led by Invesco. On the other hand, Zomato’s market cap currently stands at $5.7 billion.

Detailed explanation-5: -At a $10.7 billion valuation, Swiggy has surpassed the valuation of its 13-year-old chief rival Zomato, which went public last year and whose market cap has shrunk to less than $10 billion.