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Zomato raises $660 mn in primary financing round

Online food delivery startup Zomato has raised $660 million in the primary financing round at the post-money valuation of $3.9 bn from 10 new investors.

In a series of tweets, Zomato Founder, Deepinder Goyal, said, “The new round fund saw the participation of 10 new investors including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview.”

“Apart from $660 million, Zomato is also in process of closing $140 million in the secondary transaction and has already provided worth of $30 million to its ex-employees,” he tweeted.

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“December 2020, is expected to be the highest ever GMV month in our history. We are clocking 25% higher GMV than our previous peak in February,” Deepinder tweets.

Adding to the tweet, he said, “The tailwinds for food delivery businesses are visible, and we believe that the growth of the sector will accelerate post-vaccine.”

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