1566301343 hH3b15 thumbnail zomato ad 870x470 - India Food Delivery Startup Zomato Raises $660 million
Start-up Technology

India Food Delivery Startup Zomato Raises $660 million

Zomato, the Indian food delivery startup which plans on going public next year have just raised $660 million in another financing round.

Zomato Raises Another $660 Million

zomato 300x225 - India Food Delivery Startup Zomato Raises $660 million

Investors who participated in the funding round includes Kora, Luxor, Baillie Gifford, Tiger Global, D1 Capital and Steadview. With this funding round, zomato now has a post-value of $3.9 billion.

Zomato’s co-founder and chief executive, Deepinder Goyal also disclosed that the company is close to securing a $140 million secondary transaction.

In a tweet he wrote “As part of this transaction, we have already provided liquidity worth $30m to our ex-employees.”

The startup which is headquartered on Gurgaon acquired Indian food delivery business of Uber early this year. Zomato’s competitors includes India’s Swiggy

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and Amazon which just entered the Indian market.

Goyal said in September that Zomato was planning an IPO and they have been raising funds to build a war-chest for according to him “Future M&A, and fighting off any mischief or price wars from our competition in various areas of our business.”

According to venture capitalist Anand Lunia, in an interview with Techcrunch sad that “The problem is that there are very few people in India who can afford to place an order from a food delivery firm each day.”

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