South African internet and media company Naspers Ltd. is planning to increase its stake in Indian online food-delivery business Swiggy as the startup plots its third fundraising round of the year.
Naspers by market value has indicated that it intends to support a financing that could raise more than $600 million.
Chinese internet giant Tencent Holdings Ltd in which Naspers owns a 31 percent stake is also planning to invest in the fundraising.
Swiggy’s value has risen to more than $2 billion after Naspers led two previous funding rounds to become the firm’s biggest shareholder.