SoftBank’s bet on Swiggy gets CCI nod as Indian food delivery race heats up
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The Competition Commission of India has approved the investment by Japanese conglomerate SoftBank in food delivery giant Swiggy, as the company’s rival Zomato prepares for a high-profile initial public offering (IPO). The investment, which comes from SoftBank’s Vision Fund II (SVF2), has been in the works for many months. In April this year, Swiggy raised close to $343 Mn as part of its Series J funding round.