Food Delivery Major Zomato Raises $250 Million At A Valuation Of Whopping $5.4 Billion Ahead Of Proposed IPO

Food Delivery Major Zomato Raises $250 Million At A Valuation Of Whopping $5.4 Billion Ahead Of Proposed IPOZomato logo

Deepinder Goyal led online food delivery platform Zomato has raised $250 million from its existing, as well as new investors at a valuation of whopping $5.4 billion, reports Livemint.

The unicorn's valuation at $5.4 billion comes as a big surge from the valuation of $3.9 billion accorded to it in bygone December. This comes as a big boost for the company which is likely to go for an initial public offering in June this year.

The funds have been raised by Kora Management LP, which led the round, infusing close to $115 million, along with Fidelity Management and Research, which infused $55 million and Tiger Global Management, which put in $50 million.

New investors Bow Wave Capital and Dragoneer Investment Group also invested close to $20 million and $10 million in the company, respectively.

Meanwhile, it should be noted that in December last year, Goyal had said that the company is also raising $140 million as a part of a secondary transaction which is likely to give a partial exit to the Chinese investors Ant Group and Sunlight Fund.