CCI clears SoftBank's $450-mn investment in food delivery firm Swiggy

Sources say funding is an extension of Swiggy's $800-mn round in April from investors such as Falcon Edge, Goldman Sachs and others, which took the company's valuation to $5 bn from $3.6 bn

The Competition Commission of India (CCI) has approved the investment by SoftBank Vision Fund II in food delivery giant Swiggy. On Monday, the anti-monopoly watchdog wrote that the Commission has approved the proposed acquisition of a certain stake in Bundl Technologies (Swiggy) by SVF II Songbird (SoftBank Group entity).

According to the sources, Japan’s SoftBank is investing $450 million in Bengaluru-based Swiggy at a $5.5 billion valuation. Last month, Masayoshi Son-led SoftBank had reached out to CCI for approval on this deal.

Industry sources said the funding is an extension of Swiggy’s $800-million round in April from investors led by