Zomato Raises $195 Million In Funding At A Valuation Of $3.6 Billion: Info Edge
A food delivery rider for Zomato Media Pvt. gets on a motorcycle as he waits for an order outside of a restaurant in Mumbai, India. (Photographer: Dhiraj Singh/Bloomberg)

Zomato Raises $195 Million In Funding At A Valuation Of $3.6 Billion: Info Edge

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Zomato has raised $195 million in funding from six investors at a valuation of $3.6 billion, stakeholder Info Edge (India) Ltd. said on Friday.

"Zomato has closed a primary fundraise of $195 million from six different investors... The transactions valued Zomato at a post-money valuation of $3.6 billion," according to a regulatory filing on Friday. Upon completion of the funding round, Info Edge’s shareholding in Zomato will stand reduced to 20.8% on fully converted and diluted basis.

Of the $195 million in fresh funding, $60 million came from Luxor Capital Group LP, through its different investment vehicles. $50 million was put in by Kora Management LP, through its investment vehicle Kora Investments I LLC and/or any of its affiliates. Mirae Asset, through its investment vehicle, invested $40 million. Steadview Capital and Bow Wave Capital Management LP invested $20 million each, while $5 million came from Baillie Gifford & Co.

Queries sent to Zomato remained unanswered at the time of publishing this story.

In September, Info Edge informed the stock exchanges that Zomato had raised $160 million from Tiger Global and Temasek Holdings' subsidiary MacRitchie Investments, valuing the foodtech startup at $3.3 billion. At that time Info Edge’s shareholding in Zomato stood at 22.2%.

Zomato, which competes with Swiggy in India’s online food ordering space, plans to launch an initial public offering in the first half of 2021, Founder CEO Deepinder Goyal had told its employees in September.

Earlier this year, Zomato acquired the Indian business of Uber Eats in an all-stock deal, which gave Uber Technologies Inc. 9.99% stake in the Gurugram-based company.

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