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Zomato raises USD195M in funding from 6 investors, valuation touches USD3.6B

Tuesday, November 17, 2020, 16:00 Hrs  [IST]

 Food delivery startup Zomato raised USD 195 million (INR 1,455.4 crore) from six investors, including US-based hedge funds Kora Management and Luxor Capital, according to a regulatory filing on Friday.

The fundraising values the company, one of India's most prominent start-ups, at a post-money valuation of USD 3.6 billion, according to the filing by top shareholder Info Edge (India).

The investment is the latest in a slew of funding for Zomato in recent months, ahead of its planned initial public offering in the first half of 2021.

In September, the company raised $160 million from US hedge fund Tiger Global Management LLC and a unit of Singapore's Temasek Holdings.

Zomato, like many other startups in India, has been grappling with the economic fallout of a two-month nationwide lockdown earlier this year to curb the spread of coronavirus.

It diversified into grocery and alcohol deliveries as a way to sustain itself during the pandemic.

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