Zomato has raised ₹1,452.4 crore ($195 million) from six investors, the food-aggregator’s biggest shareholder Info Edge announced. The investors include Kora Management, Luxor Capital Group, Mirae Asset, Steadview Capital, Bow Wave Capital Management and Baillie Gifford. With these investments, Zomato’s valuation has risen to ₹26,818 crore (₹3.6 billion). Resultantly, Info Edge’s shareholding in Zomato has now reduced to 20.8%, the company said in a filing.

Of the $195 million, $60 million came from Luxor Capital Group; $50 million from Kora Management; $40 million from Mirae Asset, $20 million from Steadview Capital; $20 million from Bow Wave Capital Management; and $5 million from Baillie Gifford.

The food delivery platform is currently looking to go public in 2021, an objective that was reiterated in a recent call with investors. The company has experienced significant challenges because of the COVID-19 pandemic. However it expects delivery revenue to exceed pre-COVID levels in a month, said Sanjeev Bikhchandani, founder and ex-vice-chairman of Info Edge, in the same call.

The China angle: Earlier this year, Zomato’s fundraising efforts were affected by intensifying Indo-China tensions. Zomato had raised $150 million from existing investor Ant Financial, the payments arm of China’s Alibaba Group in January, but only $50 million came through as relations between the two countries soured. Ant Group later claimed in its IPO prospectus that India’s changed FDI rules had forced it to reevaluate “the timing of our additional investment” in Zomato.

In July, Info Edge had assured investors that the food delivery aggregator is seeing sufficient interest from investors who don’t need investment permissions. It essentially told investors that it isn’t entirely dependent on Chinese investments for raising funds. Soon enough, Zomato raised $60 million from MacRitchie Investments, a subsidiary of unit of Singapore-based Temasek Holdings, and another $100 million from US-based hedge fund Tiger Global.

Read more: