Zomato closes $660 million funding in Series J fundraise spherical making its valuation hit $3.9 billion

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Zomato can also be elevating $140 million as part of a secondary transaction, the corporate’s co-founder and CEO Deepinder Goyal stated.

Gurugram-based meals tech unicorn Zomato has accomplished its major fundraise value $660 million taking over its valuation to $3.9 billion. The fundraise noticed 10 new buyers be part of Zomato together with Tiger Global Management, Baillie Gifford, Luxor Capital, Kora Capital, Steadview, D1 Capital and Mirae Asset, Zomato founder and chief government Deepinder Goyal stated on Twitter. Zomato can also be elevating $140 million as part of a secondary transaction, Goyal stated. As part of this ultimate fundraise earlier than its IPO, Zomato has supplied liquidity value $30 million to its former workers.

The Gurgaon-headquartered startup, which acquired the Indian meals supply enterprise of Uber referred to as Uber Eats earlier this 12 months, competes with Prosus Ventures-backed Swiggy in India. A 3rd participant, Amazon, has additionally emerged out there, although it at the moment affords its meals supply service solely in elements of Bangalore.

 

I’m grateful for his or her contribution in constructing Zomato and am glad that we created some wealth for these tremendous wonderful individuals. Numerous these ex-zomans are busy engaged on their very own startups and won’t want to lift seed capital from exterior buyers,” stated Zomato co-founder and CEO Deepinder Goyal in a sequence of tweets.

Zomato is an Indian restaurant aggregator and meals supply start-up based by Deepinder Goyal and Pankaj Chaddah in 2008. Zomato supplies data, menus and user-reviews of eating places in addition to meals supply choices from companion eating places in choose cities. Zomato additionally started grocery supply amid the COVID-19 outbreak. As of 2019, the service is on the market in 24 nations and in additional than 10,000 cities.

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