MENU

Published on 23/02/2021 11:15:55 AM | Source: IANS

Zomato raises Rs 1,800cr from five investors

Posted in Industry News| #Industry #Zomato

Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel  https://t.me/InvestmentGuruIndia 

Download Telegram App before Joining the Channel

Foodtech unicorn Zomato has raised $250 million (around Rs 1,800 crore) in a new funding round from five different investors.

The transactions valued Zomato at a post-money valuation of $5.4 billion, Info Edge, a publicly listed investor in Zomato, disclosed in a filing to National Stock Exchange of India on Monday.

The new valuation marks an increase from $3.9 billion valuation of Zomato in December.

The five investors who have pumped money in the new round are Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer ($10 million).

The new funding for Zomato comes just a couple of months after closing a $660 million financing round.

The new round suggests strong investor confidence in Zomato which is preparing for its IPO later this year.

The financing also suggests strong investor confidence in Zomat's business which got affected to some extent last year due to the Covid-19 restrictions.