Food delivery firm Zomato raises Rs 353.58 crore from Antfin Singapore Holding Pte. Ltd, an existing shareholder in the company. Also, this fund will compete with other players like Swiggy and Dunzo in the food delivery area.
Number of restaurant listings globally on its platform had grown from 1.2 million in September 2018 to 1.5 million in September 2019, and In April 2019, it was present in 200 cities, and it now offers food delivery service in over 500 cities across IndiaDeepinder Goyal in 2008
According to the data platform, Crunchbase Zomato’s has raised Rs 6,051 crores over 16 rounds. So Goyal said they were looking to build to Rs 3,991 crore in a new funding round to scale up its operations.
Transaction values Zomato at a pre-money valuation of Rs 19.95 croreInfo Edge, an existing shareholder company in Zomato
Zomato currently delivers over 1.3 million orders a day from 150,000 restaurants across India. For FY19, Zomato posted revenue of Rs 1,397 crore on a loss of 1001 crore, according to regulatory filings.
Zomato announced that it has acquired Uber Eats, in India in an all-stock transaction for around Rs 2,485 crore. Now, Uber will have a 9.9% stake in Zomato as part of the deal.
It’s a big day for us, and an even bigger one for Uber Eats India – all of us at Zomato want to thank everyone who has contributed to making Uber Eats India what it is today and especially you, the foodies. We look forward to this new beginning and exciting times together.Zomato India
From 21st Jan 2020 Uber Eats discontinued its operations and directed its customers to restaurants listed on Zomato. Since the news broke, loyal customers of Uber Eats took to Twitter to express their dismay. Many people quipped that “Zomato was so hungry, that it ate up Uber Eats.”