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Zomato Raises $62.5 Million In The First Funding Round

Chinese companies, Saturn Shine and Shunwei Capital were some of the investors in the Series I funding round.
BY BEx Bureau
BusinessEx
Mar 02, 2019

Zomato, an online food-delivery app, has raised $62.5 million in the first funding round carried by Naspers. In funding series round I, capital infusion has played a crucial part for Zomato and will facilitate the company up to $ 2 billion. Shunwei Capital and Saturn shine were some of the investors in the funding rounds, as per the filings submitted to the Registrar of Companies, as reported by the Indian daily news, The Economic Times.

As per the reports of VCCircle, Delivery Hero has invested INR 350 crore in Zomato and in turn, will give the company a 2 per cent stake. On the other hand, Shunwei Capital has endowed INR 35.06 crore and thus, acquired 0.23 per cent stake in the company.

Another Chinese investor, Saturn Shine will acquire 0.36 per cent in Zomato. The funding round was held soon after Ant Financial and Sequoia Capital, the company which is backed by Zomato, was funded $40 million by the American investor, Glade Brook Capital Partners, as reported by the Indian daily news, The Economic Times.

Recently, Zomato has also launched a warehouse named Hyperpure which is 30,000 sq ft long in Bengaluru. Through this warehouse, the company plans to sell fresh vegetables, fruits and meat to restaurants, as reported by the Indian daily news, The Economic Times.

The warehouse works directly with a large network farmers, mills, producers, and processors which enables it to provide high-quality-produce at competitive prices. The food-tech firm has 100 suppliers in the system, said Zomato in a statement.

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