Samsung venture arm may deliver $10 million to Swiggy

Samsung Venture Investment Corp (SVIC), the investment arm of smartphone giant Samsung Electronics, is in talks to invest $7-$10 million (about Rs 50-Rs 72 crore) in home-grown food delivery major Swiggy, according to sources aware of the developments.

The investment, discussions for which are at an advanced stage, will be part of Bengaluru-headquartered Swiggy’s ongoing Series I financing round, which has so far been led by Naspers, the largest stakeholder in the company, along with participation from some of its existing set of investors, including Hadley Harbour Master Investments and Chinese local services platform Meituan-Dianping.