Zomato to Witness $150 Million of Fresh Funding from Four New Investors

Zomato, in its recent round of funding is expected to raise $600 million. The additional funding will be led by a group of four new risk investors. The investors who have decided to invest in the funding round include Steadview Capital, Mirae Asset-Naver Asia Growth Fund, Luxor Capital, and Bow Wave Capital.  

Baillie Gifford will also be contributing additionally to Zomato's fresh round of funding. The latest round of funding is Zomato's move to ramp up its game, giving some tough competition to Swiggy.  

Zomato also seems to be steadily moving on the path of its initial public offering process (IPO). The company has raised a round of fresh funds in the past two months from a group of non-Chinese investors, including Tiger Global, Kora Capital, and Temasek.  

Zomato has witnessed a huge spur in its sales, especially due to the ongoing Indian Premier League Cricket Tournament and the upcoming festive season. The food delivery sector has seen a rise in its growth rate during the pre-COVID levels. The current revival of the food delivery companies highlights that soon the food delivery sector might make its way on the path of full recovery.

Read more at tech.economictimes.indiatimes.com