Temasek invests $62 million in Zomato

In July, it reported that its FY20 India Food Delivery GMV grew by 108% over FY19.
  • Nusra Deputy Features Editor
Zomato

Food delivery platform Zomato has raised Rs 456 crore funding from Singapore's state investment arm Temasek Holdings, shared a regulatory filings on Tofler.

The transaction was made from MacRitchie Investments, a unit of Temasek, that is already an investor in the Gurgaon-based startup.

However, the regulatory filings did not indicate a valuation of the transaction.

Also Read: Zomato revenue grew by 105% in FY20 as compared to FY19

In July, it reported that its FY20 India Food Delivery GMV grew by 108% over FY19. It acquired Uber Eats India business in January 2020 which helped propel them to market leadership in this hotly contested space.

Also, in a delivery report that it did last month, the food delivery platform shared that it has 180,000 restaurants listed on the platform and nearly 27 million monthly active users, since the lockdown on March 25, it has delivered 70 million orders and estimated that the overall food delivery industry would have done 200 million orders.

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It also mentioned that its food delivery has recovered 75-80 per cent of the pre-covid sales.

Zomato, which competes with Swiggy in India for the delivery business, mentioned that its dining out transactions in markets like New Zealand, UAE and Portugal are already back to pre-COVID levels.

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