Coatue and Meituan-Dianping, besides two other investors who could not be identified, are in talks to invest in Swiggy, which was valued at $700 million last month
The San Francisco-based company Instacart that shops for and delivers groceries from about 200 retailers including Target Corp and Costco Wholesale Corp, said the new funding values the company at about $4.2 billion.
The investment further will focus on creating transparent, more efficient and timely procedures for delivery logistics. The investment would also entail partner and rider recognition programs for better performance.
A team of architect and the Kanpur-based food company officials visited the airport recently to check what kind of outlets could be set up at the airport.