Zomato, leading food delivery startup, raised $195 million from six investors, according to a regulatory filing on Friday. “Zomato Pvt Ltd 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,” Info Edge said in a regulatory filing.
Upon closing of the fund raise, Info Edge’s shareholding in Zomato shall stand reduced to about 20.8% on fully converted and diluted basis, it added. The investment is the latest in a slew of funding for Zomato in recent months, ahead of its planned initial public offering in the first half of 2021.
Of the latest investments, $60 million came from from Luxor Capital Group LP, through its different investment vehicles. The food delivery startup raised $50 million from Kora Management LP , through its investment vehicle Kora Investments I LLC and/or any of its affiliates, the filing said.
In September, the company raised $160 million from US hedge fund Tiger Global Management LLC and a unit of Singapore’s Temasek Holdings.
The online food delivery segment has seen significant growth in the last few years. Earlier this year, Zomato acquired the Indian business of Uber Eats in an all-stock deal that will give the ride hailing company 9.99% stake in Zomato. However, the business was severely affected during coronavirus lockdown. Zomato ventured into the grocery delivery business during nationwide lockdown.
This article was first published on livemint.com.