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Sunday, September 27, 2020

‘Zomato raises $104 million in fresh funding, to launch IPO in 2021’

Regulatory filings sourced from business platforms Tofler and paper.vc showed Zomato has raised a fresh Rs 760 crore ($103.45 million) from Tiger Global, Baillie Gifford and Ant Financial as part of the series J financing round.

By: ENS Economic Bureau | New Delhi | Updated: September 11, 2020 9:48:42 am
“We have raised a lot of money, and today, our cash in the bank of around $250 million is more than ever in our history. We estimate that our current round will end up with us at $600 million in the bank very soon,” CEO Deepinder Goyal wrote.

Food delivery player Zomato, which has raised $104 million in a fresh round, plans to go public sometime in the first half of 2021, founder and CEO Deepinder Goyal said in an internal mail to employees Thursday. “We have raised a lot of money, and today, our cash in the bank of around $250 million is more than ever in our history. We estimate that our current round will end up with us at $600 million in the bank very soon,” he wrote.

Regulatory filings sourced from business platforms Tofler and paper.vc showed Zomato has raised a fresh Rs 760 crore ($103.45 million) from Tiger Global, Baillie Gifford and Ant Financial as part of the series J financing round. A few others, such as Kora Management are also expected to participate in this round. Last week, the firm raised $62.44 million from existing investor Tema-sek. With the latest infusion, it has now raised some $1 billion. —FE

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