Zomato gets $40mn from US investor

Zomato gets $40mn from US investor
Zomato gets $40mn from US investor

Food delivery and restaurant discovery platform Zomato has seen a fresh capital infusion of $40 million (Rs 284 crore) from US-based Glade Brook Capital Partners, latest regulatory documents show. The regulatory filings show that Gurugram-based Zomato issued 13,000 class 1 preference shares to Glade Brook for the fund infusion. The resolution of the same was passed on February 5. The new capital raised by Zomato is part of the Series I round when Zomato raised around $210 million late last year from Alibaba group affiliate Ant Financial, as per initial estimates. This comes at a time when Zomato is in middle of talks to sell its UAE business to Germany′s Delivery Hero. It has also held talks with Chinese private equity player Primavera Capital for a new round to the tune of $500 million- $ 1 billion, but a deal has not been finalised. Zomato raised $410 million from Ant Financial last year across two rounds of funding.

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