India-based food delivery service Zomato has secured $195m in new funding, the Economic Times has reported, citing a regulatory filing from one of its shareholders, classified listings operator Info Edge.
The latest funding included $60m from Luxor Capital, $50m from Kora Management and $40m from Mirae Asset – Naver Asia Growth Investment, a vehicle backed by internet group Naver.
Steadview Capital, Bow Wave Capital Management and Baillie Gifford’s Pacific Horizon Investment Trust filled out the round, which valued the company at $3.6bn post-money. Info Edge’s stake now stands at 20.8%.
Zomato operates an online platform where users can discover restaurants and order food from them for home delivery. It has diversified into areas such as groceries and alcohol delivery during the covid-19 pandemic.
The company raised $100m in additional series J funding from Tiger Global Management in September this year, adding to $62m from Temasek subsidiary MacRitchie Investments earlier that month.
Ant Group, the financial services affiliate of e-commerce firm Alibaba, had supplied $150m for Zomato in January before on-demand ride provider Uber took a 10% stake through the sale of its local Uber Eats business at an estimated $3bn valuation shortly afterwards.
Zomato closed a $315m round in March 2019 that included $210m from Ant Financial and $50m from online food ordering service Delivery Hero as well as funding from Glade Brook Capital, Shunwei Capital and Saturn Shine.
Ant Financial had previously invested $150m in the company in early 2018 at a $1.1bn valuation alongside a $50m share purchase from Info Edge.
Zomato had already raised about $225m, the majority of which came from Info Edge, which owned a majority stake as recently as its $50.1m series F round in 2015. Its earlier backers also include Sequoia Capital, Vy Capital and Temsaek.
