Zomato in talks to raise $400m in fresh funding at $2b valuation

Zomato in talks to raise $400m in fresh funding at $2b valuation

Photo: Zomato

Food-tech startup Zomato Media Pvt. Ltd is in talks to raise $400 million, largely from existing investors Ant Financial and Temasek, at a valuation of as much as $2 billion, as the fast-growing online food ordering space continues to attract investor attention, according to two people close to the development.

The development comes as Zomato’s arch-rival Swiggy on Thursday announced a fresh funding of $210 million, the largest by a food-tech startup. Apart from existing investors, Zomato is also in talks with Alibaba Group for the existing funding round that could value the company anywhere from $1.6-$2 billion pre-money, the people cited above said.

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