Home Tech Zomato raises extra $52 million from Kora Investments, Know-how Information, ETtech-Autopresse.eu

Zomato raises extra $52 million from Kora Investments, Know-how Information, ETtech-Autopresse.eu

Zomato raises extra $52 million from Kora Investments, Know-how Information, ETtech-Autopresse.eu

Zomato raises extra $52 million from Kora Investments, Know-how Information, ETtech

2020-10-15 12:35:54

Illustration: Rahul Awasthi

Zomato has raised a further Rs 380 crore (about $52 million) from Kora Investments, as a part of its ongoing $600 million financing spherical, based on regulatory filings.

This takes its capital elevating to about $220 million in the previous couple of months, together with from new traders Tiger World and present one Temasek.

ET was the primary to report on Kora Capital’s funding in its September three version. Zomato’s valuation within the present spherical has been pegged at $three billion.

The funding has come at a time when Zomato stated its gross sales volumes have touched pre-Covid-19 ranges after falling sharply in April following the nationwide lockdown.

Since March 23, Zomato has delivered 92 million orders.

ET reported on October 6 {that a} set of 4 new threat traders — London-based hedge fund Steadview Capital, South Korean Mirae Asset-Naver Asia Progress Fund, US hedge fund Luxor Capital and personal fairness agency Bow Wave Capital — had been prone to collectively pump $150 million into Zomato’s ongoing spherical.

The Gurugram-based firm has additionally engaged with funding banks to kick off its preliminary public providing (IPO) course of.

Deepinder Goyal, cofounder and chief government of Zomato, stated final month that the corporate was on target to go public by the mid-2021.

Earlier this 12 months, China’s Ant Capital dedicated to speculate $150 million, however Zomato has been capable of entry solely $50 million of that up to now, as India tweaked its overseas direct funding (FDI) guidelines in April, requiring prior authorities approval for any funding from international locations that share a land border with it.

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