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.