Food delivery and discovery platform Zomato has raised $195 million (around Rs 1,455.40 crore) in funding from six investors, including Luxor and Kora, taking its valuation to $3.6 billion. “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," Info Edge said in a regulatory filing on Friday. Zomato is the investee company of Info Edge.
Info Edge added that post closing of the fundraise, its shareholding in Zomato shall stand reduced to about 20.8% on fully converted and diluted basis. The latest fundraise for Zomato comes ahead of its planned initial public offering (IPO) in the first half of 2021.
As part of the latest investment, $60 million was pumped in by Luxor Capital Group LP, through its different investment vehicles. Another $50 million came from Kora Management LP, through its investment vehicle Kora Investments I LLC and/or any of its affiliates, the filing said. Mirae Asset, through its investment vehicle Mirae Asset – Naver Asia Growth Investment Pte Ltd and/or any of its affiliates, invested $40 million, the filing added.
Steadview Capital and Bow Wave Capital Management LP invested $20 million each, while $5 million came from Baillie Gifford & Co, through its investment vehicle Pacific Horizon Investment Trust Plc and/or any of its affiliates, the filing said.
In September, Zomato had raised $160 million (about Rs 1,173 crore) in funding from Tiger Global Management LLC and Temasek Holdings subsidiary MacRitchie Investments.
The online food delivery space has seen substantial growth in the last few years. Earlier this year, Zomato acquired the Indian business of Uber Eats in an all-stock deal giving the ride-hailing company 9.99% stake in Zomato.