Newsbytes
  • India
  • Business
  • World
  • Politics
  • Sports
  • Science
  • Entertainment
  • Auto
  • Lifestyle
  • Inspirational
  • Career
  • Bengaluru
  • Delhi
  • Mumbai
  • Videos
  • Find Cricket Statistics
Hindi
More
Newsbytes
Hindi
Newsbytes
User Placeholder

Hi,

Logout


India
Business
World
Politics
Sports
Science
Entertainment
Auto
Lifestyle
Inspirational
Career
Bengaluru
Delhi
Mumbai
Videos
Find Cricket Statistics

More Links
  • Videos

Download Android App

Follow us on
  • Facebook
  • Twitter
  • Linkedin
  • Youtube
 
Home / News / Business News / Zomato raises $150 million from Ant Financial: Details here
  • Business

    Zomato raises $150 million from Ant Financial: Details here

    Written by
    YANTRA (Bot)
    Edited by
    Ratnakar Shukla
    Last updated on Jan 12, 2020, 12:03 am
    Zomato raises $150 million from Ant Financial: Details here
  • Gurugram-based food-tech unicorn Zomato has raised $150 million in a corporate round of funding led by existing investor Ant Financial.

    The fund-raise, which takes the company's valuation to around $3 billion, is reportedly a part of a larger $500 million funding round which is likely to be closed before the end of this quarter.

    Here are more details.

  • In this article
    Zomato: Food-tech giant with global presence What Zomato said after the fund-raise How the company will utilize the fresh funds? Zomato's valuation now stands at around $3 billion
  • Zomato

    Zomato: Food-tech giant with global presence

    Zomato: Food-tech giant with global presence
  • Founded in 2008 by IIT Delhi alumni Deepinder Goyal and Pankaj Chaddah, Zomato started off as a restaurant discovery company. But now, it dominates as one of the leading food delivery start-ups in the world.

    The company claims to serve over 10,000 cities across 24 countries, including India - its home market with a user base of over 25 million.

  • Quote

    What Zomato said after the fund-raise

  • "We confirm that we have raised $150 million from Ant Financial as a part of a larger round. Ant Financial has been a steadfast partner in our journey towards achieving market leadership in on-demand food delivery in India and dining out globally," Zomato told YourStory.

  • Future plans

    How the company will utilize the fresh funds?

    How the company will utilize the fresh funds?
  • Zomato hasn't commented on how it would use the fresh funds. However, previous reports suggest that the company is planning to cut down its losses and become profitable by the end of this year.

    Apart from that, reports also suggest that the start-up is in talks to acquire UberEats to become the largest food-tech company in the country by overtaking arch-rival Swiggy.

  • Investment

    Zomato's valuation now stands at around $3 billion

    Zomato's valuation now stands at around $3 billion
  • Prior to this round, Zomato had received $60 million funding from Germany-based food-tech giant Delivery Hero. So far, the company has raised approximately $909.6 million in over 16 funding rounds since its inception.

    And, with the inclusion of this fund-raise, the valuation of the Gurugram-based start-up is estimated to have grown to a whopping $3 billion.

  • Zomato
  • Uber
  • Startups
  • UberEATS
  • Swiggy
  •  
Latest News
  • NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    NewsBytes Briefing: Investigation uncovers Facebook's pro ISIS move, and more
    Science
  • PUBG: New State announced for iOS, Android; Unavailable in India
    PUBG: New State announced for iOS, Android; Unavailable in India
    Science
  • Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Indian versions of 'Suits', 'House', 'Monk', 'SNL' are being planned
    Entertainment
  • Google integrates lightweight HTML5 games into Chrome browser on Android
    Google integrates lightweight HTML5 games into Chrome browser on Android
    Science
  • Sony announces next-generation PSVR headset for the PlayStation 5
    Sony announces next-generation PSVR headset for the PlayStation 5
    Science
Trending Topics
Bharti Airtel Mukesh Ambani WhatsApp Reliance Jio OPPO Isha Ambani
Next News Article
Share
Cancel

Want to share it with your friends too?

Facebook Whatsapp Twitter Linkedin
Copied

Love Business news?

Subscribe to stay updated.

Business Thumbnail
India News Business News World News Politics News Sports News Science News Entertainment News Auto News Lifestyle News Inspirational News
Career News Bengaluru News Delhi News Mumbai News Bharti Airtel Mukesh Ambani Indian Premier League Samsung Virat Kohli Rohit Sharma
Cricket News Narendra Modi Facebook YouTube Hollywood News WhatsApp Bollywood News ISRO Rahul Gandhi Yoga
Honda Batman Football News BMW Vaccine Reliance Jio OPPO Amazon Food News, Healthy Recipes Royal Challengers Bangalore
Toyota Fashion Tips Farmers Protest Mercedes Isha Ambani India Vs England Cricket OnePlus Mobiles Android TV Smart TV Marvel Comics
Avengers Neha Kakkar Premier League Big Bang Theory
About Us Privacy Policy Terms & Conditions Contact Us News Reviews News Archive Topics Archive Find Cricket Statistics
Follow us on
Facebook Twitter Linkedin Youtube
All rights reserved © NewsBytes 2021