Zomato bags Rs 1,800 crore in new funding round from five investors
Zomato has raised $250 million (around Rs 1,800 crore) in a new funding round from five different investors. The transactions valued Zomato at a post-money valuation of $5.4 billion, Info Edge, a publicly listed investor in Zomato, disclosed in a filing to the National Stock Exchange of India. The new valuation marks an increase from the $3.9 billion valuation of Zomato in December.
The five investors who have pumped money in the new round are Kora (which contributed $115 million), Fidelity ($55 million), Tiger Global ($50 million), Bow Wave ($20 million) and Dragoneer ($10 million).
The new funding for Zomato comes just a couple of months after closing a $660 million financing round. The new round suggests strong investor confidence in Zomato which is preparing for its IPO later this year.
The financing also suggests strong investor confidence in Zomato's business which got affected to some extent last year due to the Covid-19 restrictions.
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