Swiggy in talks with South African Internet and media conglomerate Naspers for raising funds

South African Internet and media conglomerate, Naspers is in talks to pick up stake in online food delivery startup Swiggy. This deal will give the Bengaluru-based startup a possible fundraise at a valuation of about $400 million.

Naspers, which has backed companies like online retailer Flipkart and owns about a third of travel portal MakeMyTrip, is expected to invest $50-60 million as a part of the funding round.

Overall, the financing round could see Swiggy acquire close to $80 million, including commitments from existing investors.