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Home Business Zomato Raises $195 Million From Investors At $3.6 Billion Valuation

Zomato Raises $195 Million From Investors At $3.6 Billion Valuation


Zomato has been grappling with the financial fallout of a nationwide lockdown earlier this yr

Mumbai:

Meals supply startup Zomato raised $195 million from six buyers, together with US-based hedge funds Kora Administration and Luxor Capital, in line with a regulatory submitting on Friday.

The fundraising values the corporate, one in all India’s most distinguished start-ups, at a post-money valuation of $3.6 billion, in line with the submitting by high shareholder Data Edge (India).

The funding is the newest in a slew of funding for Zomato in current months, forward of its deliberate preliminary public providing within the first half of 2021.

In September, the corporate raised $160 million from US hedge fund Tiger World Administration LLC and a unit of Singapore’s Temasek Holdings.

Zomato, like many different startups in India, has been grappling with the financial fallout of a two-month nationwide lockdown earlier this yr to curb the unfold of coronavirus.

It diversified into grocery and alcohol deliveries as a approach to maintain itself in the course of the pandemic.

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