Zomato bags $52 million from Kora Investments

The investment has come at a time when Zomato said its sales volumes have touched pre-Covid-19 levels.
  • Nusra Deputy Features Editor
Zomato

Food deliver major Zomato has raised Rs 380 crore (about $52 million) from US-based investment firm Kora Investments.

The infusion happened through Kora Investments I LLC, a company incorporated under the laws of Cayman Islands, according to the documents filed by Zomato.

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

After this round, the food delivery platform has raised $220 million in the last few months, including from new investors Tiger Global and existing one Temasek.

“The board of the directors of the company in their meeting held on October 6, 2020, had approved the issuance of 12,656 Class J5-1 CCPS to Kora,” said the document.

May Interest: Temasek invests $62 million in Zomato

The investment has come at a time when Zomato said its sales volumes have touched pre-Covid-19 levels after falling sharply in April due to the lockdown.

Earlier in September, Zomato has raised Rs 456 crore funding from Singapore's state investment arm Temasek Holdings. The transaction was made from MacRitchie Investments, a unit of Temasek, that is already an investor in the Gurgaon-based startup.

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