Zomato Raises $5 Mn in Series J Round

Food-tech aggregator and delivery platform Zomato has raised around $5 million (or Rs 38 crore approx.) in from Pacific Horizon Investment Trust PLC.

This is Series J round of the funding as per the filings with the Registrar of Companies (RoC).

Pacific Horizon has invested in the food-tech unicorn through its agent Baillie Gifford and Company.

According to the reports, with this new funding round Zomato’s valuation now stands at $3.25 billion, close to its rival Swiggy which stands at 3.6 billion.

Earlier in January 2020, Zomato had raised $150 million as a part of a fresh fundraise from its existing investor Ant Financial.

The food-tech firm has also announced the launch of its Gold Support Fund in a bid to support millions of restaurant workers who are facing the possibility of losing their livelihoods due to the ongoing nationwide lockdown.