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Zomato is closing fresh investment in pre-IPO funding round

January 22, 2021

Zomato is closing fresh investment in pre-IPO funding round

Online food delivery platform Zomato is closing a fresh $500 million infusion in what is by and large generally viewed as a pre-IPO funding round, valuing the organization at about $5.5 billion, two individuals up to date said.

The latest fundraise, which contains a mix of primary cash investment of $250 million by existing supporters and a comparative sum via subsidiary sale of shares by Chinese speculators Ant Group and Sunlight Fund, comes in the midst of uplifted international tension among India and China.

Existing financial specialists Tiger Global, Kora Investments, Steadview, Fidelity, Bow Wave, Vy Capital alongside new contestant Dragoneer Group, have taken an interest in the most recent funding round, said an individual up to date of the improvement who would not like to be named as the discussions were private.

With the new capital, Zomato is required to have $1 billion in cash as it inches nearer to its public market debut, said someone else acquainted with the goings-on in the organization.

“Zomato is focusing on an IPO by June this year valuing the organization at $6-8 billion in the public market,” said an individual acquainted with the issue. Sources said Goldman Sachs, Morgan Stanley, Credit Suisse and Kotak Mahindra Bank have been delegated by the organization to run its IPO cycle.

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