Food ordering and delivery platform Zomato is in the process of raising $600 million in a fresh funding round, which is likely to be led by its existing Chinese investor Ant Financial, The Economic Times reported.
The infusion of about $200 million from Ant Financial will make it the largest shareholder in Zomato at 29 per cent stake.
Singapore’s state investment arm Temasek is also expected to pump in significant capital into the round, which is expected to value Zomato at a whopping $3 billion. Besides, a bunch of hedge funds may also pool in about $150-200 million.
Zomato was valued at about $2 billion when it last raised funding earlier this year.
Zomato raised about $40 million from US investor Grade Book Capital Partners in February this year.
The financing was part of the Series I round, where Zomato raised $210 million from existing investor Ant Financial in October last year.
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