Zomato raised $195 million in funding
On 14 November, Info Edge said its investment firm Zomato raised $195 million (approximately Rs 1,455.4 crore) in financing from six shareholders, including Luxor, Kora and Steadview, acquiring the $3.6 billion online food ordering site.
“Zomato Pvt Ltd has closed a primary fundraise of $195 million from six different investors…The transactions valued Zomato at a post-money valuation of $3.6 billion,” Zomato Pvt Ltd has closed primary fundraising of $195 million from six different investors… The transactions valued Zomato at a post-money valuation of $3.6 billion.
Of its $195 million, $60 million, through its various investment vehicles, was raised from Luxor Capital Group LP. The filing said that around $50 million came from Kora Management LP, through its Kora Investments I LLC investment vehicle and/or some of its affiliates.
Mirae Asset invested $40 million through its investment fund, Mirae Asset-Naver Asia Growth Investment Pte Ltd and/or some of its affiliates, it added.
Steadview Capital and Bow Wave Capital Management LP each invested $20 million, while Baillie Gifford & Co, through its Pacific Horizon Investment Trust Plc investment fund and/or some of its affiliates, invested $5 million, the filing said.
In the year 2008, Zomato was established. Deepinder Goyal, Gaurav Gupta, and Pankaj Chaddah are the pioneers of industries such as apps, food delivery, mobile apps, reservations, restaurants, search engines, software, etc. Zomato is an online restaurant guide and food ordering platform that enables users to order meals and deliver them from restaurants.
The start provides a search app that provides comprehensive restaurant details that allow customers to locate, rate, and review restaurants as well as create their own personal foodie’s network for trusted recommendations. In 24 countries, Zomato connects over 55 million users to restaurants.
The company was founded in Gurgaon, Haryana, and is backed by investors such as Tiger Global, Temasek, Baillie Gifford, Kora, Luxor, Fidelity (FMR), D1 Finance, Baillie Gifford, Mirae, Steadview, and Ant Financial.
In September, Info Edge told the stock exchanges about Zomato raising $160 million (approximately Rs 1,173 crore) in Tiger Global and Temasek Holdings subsidiary MacRitchie Investments funding, valuing the $3.3 billion online food ordering site.
Info Edge’s shareholding in Zomato was at 22.2 percent after the September transaction.
With Zomato and Swiggy fighting head-on to capture market share, the online food delivery segment has seen tremendous growth in the last few years.