Startup Digest: CCI approves Softbank's investment in Swiggy, WhatsApp banned 2 M accounts in …

Here are the top stories that made headlines in the startup universe this week.CCI approves Softbank’s investment in SwiggyCompetition Commission of India (CCI) has approved SoftBank Vision Fund II’s investment in food delivery app Swiggy. Moneycontrol had reported earlier that SoftBank will invest $450-500 million in Swiggy at a post-money valuation of close to $5.5 billion.At a time when Swiggy is preparing to close a billion-dollar fund raise, the food delivery platform has also elevated Phani Kishan Addepalli, its vice-president for strategy and investments, to a co-founder’s status.NRAI accuses Zomato, Swiggy of ‘Exorbitant Commission’ in an additional information filing with CCIRestaurant industry body NRAI has filed additional information with the Competition Commission of India (CCI), alleging exorbitant commissions charged by aggregators Zomato and Swiggy.NRAI claimed that Zomato and Swiggy are charging a commission in the range of 25 to 35 percent of the order value in 2020-21, and that delay in payments has affected the entire cash flow of its partners. It also alleged that Zomato and Swiggy are forcing restaurant partners to give discounts on their platforms to maintain good visibility and have shifted the entire cost burden on the restaurants.WOW! Momo forays into FMCG with Ready-To-Eat MomosHomegrown QSR…
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