Online food delivery platform Zomato raised $250 million from five different investors as part of a primary round led by Kora Management. The latest round took Zomato to a post-money valuation of $5.4 billion. Info Edge, which holds a stake in Zomato, disclosed the round in a regulatory filing on Monday. As part of the round, Zomato raised $115 million from Kora Management. Funds or accounts advised or sub-advised by Fidelity Management & Research Company and its affiliates pumped in $55 million. The company also raised $50 million from Tiger Global, $20 million from Bow Wave Capital Management, and $10 million from Dragoneer Investment Group. Info Edge’s effective stake in Zomato stood at 18.4% following the fundraise. Zomato has intentions of going public in 2021, and the company has been on a fundraising spree, as it gears up for its initial public offering. In December 2020, Zomato had raised US$660 million, at a valuation of $3.9 billion. That round had seen investments coming from ten investors, including Tiger Global, Kora, Luxor, Fidelity, D1 Capital, Baillie Gifford, Mirae, and Steadview. Before that, in November 2020, a total of $195 million (₹1,452.4 crore) was invested into the company. In October 2020, Kora Investments pumped in $52 million into the company. In September 2020, MacRitchie Investments, a subsidiary unit of Singapore-based Temasek Holdings, had invested $60 million. Also read: Zomato IPO Depends On Board’s Decision, No Further Details Available As Of Now: Info Edge Zomato sees 60% higher GMV on Dec 31 than last year Early…
- Jade Lyngdoh on Content Moderation in Non-English Languages | Meta India Tech Scholars 2021-22 February 1, 2023
- Why is a global approach to crypto regulation needed, according to India’s Economic Survey? February 1, 2023
- Budget 2023: Top Tech Policy Takeaways from Nirmala Sitharaman’s Speech February 1, 2023
- Everything You Need to Know About the India-US Critical and Emerging Technology Initiative February 1, 2023
- RS Sharma, key person for Aadhaar and Co-WIN projects, steps down as Chief of National Health Authority of India February 1, 2023
MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.
India's smartphone operating system BharOS has received much buzz in the media lately, but does it really merit this attention?
After using the Mapples app as his default navigation app for a week, Sarvesh draws a comparison between Google Maps and Mapples
The regulatory ambivalence around an instrument so essential to facilitate data exchange – the CM framework – is disconcerting for several reasons.
The provisions around grievance redressal in the Data Protection Bill "stands to be dangerously sparse and nugatory on various counts."
Please subscribe to MediaNama. Don't share prints and PDFs.
You May Also Like
Google has released a Google Travel Trends Report which states that branded budget hotel search queries grew 179% year over year (YOY) in India, in...
135 job openings in over 60 companies are listed at our free Digital and Mobile Job Board: If you’re looking for a job, or...
Twitter takes down tweets from MP, MLA, editor criticising handling of pandemic upon government request
By Aroon Deep and Aditya Chunduru You’re reading it here first: Twitter has complied with government requests to censor 52 tweets that mostly criticised...