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Zomato closes $660 million funding in Series J fundraise round making its valuation hit $3.9 billion – Business News , Firstpost


Zomato can also be elevating $140 million as part of a secondary transaction, the corporate’s co-founder and CEO Deepinder Goyal mentioned.

Gurugram-based meals tech unicorn Zomato has accomplished its major fundraise price $660 million taking on its valuation to $3.9 billion. The fundraise noticed 10 new traders be part of Zomato together with Tiger Global Management, Baillie Gifford, Luxor Capital, Kora Capital, Steadview, D1 Capital and Mirae Asset, Zomato founder and chief government Deepinder Goyal mentioned on Twitter. Zomato can also be elevating $140 million as part of a secondary transaction, Goyal mentioned. As part of this remaining fundraise earlier than its IPO, Zomato has offered liquidity price $30 million to its former staff.

The Gurgaon-headquartered startup, which acquired the Indian meals supply enterprise of Uber referred to as Uber Eats earlier this yr, competes with Prosus Ventures-backed Swiggy in India. A 3rd participant, Amazon, has additionally emerged in the market, although it at present presents its meals supply service solely in elements of Bangalore.

 

I’m grateful for his or her contribution in constructing Zomato and am glad that we created some wealth for these tremendous wonderful individuals. Quite a lot of these ex-zomans are busy engaged on their very own startups and won’t want to boost seed capital from exterior traders,” mentioned Zomato co-founder and CEO Deepinder Goyal in a sequence of tweets.

Zomato is an Indian restaurant aggregator and meals supply begin-up based by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato gives info, menus and person-opinions of eating places in addition to meals supply choices from accomplice eating places in choose cities. Zomato additionally started grocery supply amid the COVID-19 outbreak. As of 2019, the service is obtainable in 24 international locations and in greater than 10,000 cities.

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