Zomato raised another $250 million

Indian food delivery startup, Zomato, had raised another $250 million. The last series J funding round was 2 months before with the closing of $660 million.

There are multiple investors this time some of them are Kora($115 million), Fidelity($55 million), Tiger Global($50 million), Bow Wave($20 million) and Dragoneer($10 million). ZOmato is 12-year old now and has its headquarter in Gurgaon. After this new investment, Zomato's total valuation is about $5.4 billion which was $3.9 billion in December last year.

Zomato has acquired the Indian Food Delivery Business of Uber last year. The major competitor of Zomato at present is Swiggy(whose value is about $3.6 billion). Amazon has also started its food delivery service but only in some parts of Bangalore.

Zomato co-founder and CEO, Deepinder Goyal said,

December 2020 is expected to be the highest ever GMV month in our history. We are now clocking ~25% higher GMV than our previous peaks in February 2020. I am supremely excited about what lies ahead and the impact that we will create for our customers, delivery partners and restaurant partners.

Zomato is also working on its IPO sometime in the first half of 2021.

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