- With the latest investment, Info Edge’s shareholding in Zomato to about 20.8 % on a fully converted and diluted basis.
- The investors in the latest round include Luxor Capital Group LP, Kora Management LP, and Mirae Asset among others.
- The company also plans to go for Initial Public Offering (IPO) in the 1st half of 2021.
The online food delivery platform Zomato has raised $195 million (Rs 1,455.4 Crore) in funding from 6 investors including Luxor, Kora, and Steadview, Info Edge has confirmed the news on Friday.
With this investment, the company stands at a post-money valuation of $3.6 billion. This also reduced Info Edge’s shareholding in Zomato to about 20.8 % on a fully converted and diluted basis.
Of the $195 million, $60 million was raised from Luxor Capital Group LP, $50 million came from Kora Management LP, $40 million came from Mirae Asset.
Steadview Capital and Bow Wave Capital Management LP each invested $20 million, while $5 million came from Baillie Gifford & Co, through its investment vehicle Pacific Horizon Investment Trust Plc and/or any of its affiliates.
Zomato had seen their business being impacted by the COVID-19-induced lockdown. However, the company has seen significant growth in the last few months with the easing of lockdown. Lately, Zomato and Swiggy also ventured into the area of grocery delivery.
Earlier in September this year, Zomato CEO Deepinder Goyal wrote an email to its employees saying the company is trying hard to launch its IPO by mid-2021.
According to the reports, so far, the food-tech unicorn Zomato has raised over $225 million in its Series J funding round, majorly funded by Tiger Global Management and MacRitchie Investments.
During the FY-20, Zomato’s overall revenue growth has been increased by 105% as compared to the FY-19 period. While The company also reported that the losses went up by 47% in the corresponding period.
Interestingly, in May this year, Amazon India announced the launch of its food delivery operations in select parts of Bengaluru.
About the company: Zomato is an Indian restaurant aggregator and food delivery start-up founded by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato provides information, menus, and user-reviews of restaurants as well as food delivery options from partner restaurants in select cities.
with inputs from PTI (Press Trust Of India)