Zomato Set To Raise $146 Million From Various Investors

• Food tech unicorn Zomato is all set to raise $146 million in its ongoing Series J funding round.
• Last month Zomato has raised additional funding of $5.1 million (or about Rs 38 crore) from Pacific Horizon Investment Trust as part of its ongoing Series J round.

Gurugram-based food tech unicorn Zomato set to raise $146 million (or about Rs 1,080 crore) in its ongoing Series J funding round from various investors, including Mirae Asset Management, Steadview Capital, Luxor Capital, Lugard Road Capital, ASP India LP, and Pacific Horizon. 

Last Month, Zomato had raised additional capital of $5.1 million (or about Rs 38 crore) from Pacific Horizon Investment Trust as part of its ongoing funding round.

While, In April this year, UK-based Pacific Horizon Investment Trust had invested $5 million as the first tranche of its funding in Zomato, shows regulatory filings.

Following, In October this year, Zomato had raised $52 million (or about Rs 380 crore) from Brooklyn-based investment firm Kora Investments as a part of its ongoing Series J funding round.

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.

Zomato is looking to issue about 34,873 class J7 compulsorily convertible cumulative preference shares (CCPS) to the investors, at an expected price of ₹300,235 per share, garnering close to $141 million (or about Rs 1,047 crore), the regulatory filings showed.

Also Read: Zomato All Set For 2021 IPO, Appoints Legal Advisors

Mint first reported on Thursday that Zomato had appointed Kotak Mahindra Bank as the lead bank for its proposed IPO, which it has planned to launch next year.

Further, Zomato is looking to hire bankers and had appointed Cyril Amarchand Mangaldas and Indus Law as legal advisors to proceed with the process of its IPO launch.

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.

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.

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