Indian food-delivery startup Zomato has raised $195 million, about Rs 1,455.4 crore via funding from six investors which include Luxor, Kora and Steadview, valuing the online food ordering platform at $3.6 billion. Upon the closure of the fundraise, Info Edge’s shareholding in Zomato would stand reduced to about 20.8% on a fully converted and diluted basis.
Out of the raised $195 million, $60 million was raised from Luxor Capital Group LP, about $50 million from Kora Management LP through its investment vehicle Kora Investments I, L.L.C and/or any of its affiliates and Mirae Asset invested $40 million through its investment vehicle Mirae Asset – Naver Asia Growth Investment Pte Ltd and/or any of its affiliates.
“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 mentioned in a regulatory filing.
$20 million was invented by Steadview Capital and Bow Wave Capital Management LP each, while $5 million was invested from Baillie Gifford & Co, via its investment vehicle Pacific Horizon Investment Trust Plc and/or any of its affiliates.
Info Edge in September had informed the stock exchanges about Zomato raising Rs 1,173 crore in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments, raising the value of the online food ordering platform at $3.3 billion.
After the September transaction, Info Edge’s shareholding in Zomato stood at 22.2%. The investment is the latest of its kind funding for Zomato in recent months before its scheduled initial public offering in the first half of 2021.