This Article is From Nov 14, 2020

Zomato Raises $195 Million From Investors At $3.6 Billion Valuation

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.

Zomato Raises $195 Million From Investors At $3.6 Billion Valuation

Zomato has been grappling with the economic fallout of a nationwide lockdown earlier this year

Mumbai:

Food delivery startup Zomato raised $195 million 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 $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.