Naspers had put in $61 million of the $80 million round of funding into Swiggy in June 2017, the company has disclosed in its interim results. "Following the investment, the group holds a 16% effective interest (15% fully diluted) in Swiggy", the company says in its report. On May 30th, Swiggy had announced raising $80 million in Series E funding led by global internet and entertainment group Naspers, along with participation from existing investors Accel India, SAIF Partners India, Bessemer Venture Partners, Harmony Partners and Norwest Venture Partners. Ashutosh Sharma, head of investments in India for Naspers will join the Swiggy Board, the company had said then in a statement. More on Swiggy's business and funding here. * Naspers also holds 14% (13% fully diluted) stake in Flipkart, having invested $71m for an additional interest the company in April 2017, and following multiple rounds of funding in which Naspers did not participate. "The additional interest was acquired from existing shareholders of Flipkart. Flipkart undertook various funding rounds during the reporting period [six months ending September 2017] in which the group did not participate. These funding rounds resulted in a dilution of the group’s interest in Flipkart and in the recognition of an aggregate net dilution gain of US$11m in “Dilution losses on equity-accounted investments” in the income statement. Flipkart raised substantial capital from investors – including Tencent and Softbank – recently, including $2.5 billion from Softbank's Vision Fund. In March, it had raised $1.4 billion from Microsoft and Tencent; incidentally,…
