Invesco initially invested in Swiggy in early 2022, leading a $700 million round that valued the company at $10.7 billion. However, when the market dipped in 2023, Invesco lowered its estimated value of Swiggy to $5.5 billion. As of April 2024, the fund valued Swiggy at around $12.3 billion. This significant increase in valuation is likely due to Swiggy's strong performance in the Indian food delivery market, as well as its growing presence in the country.