Tiger Global and Kora Capital are set to invest in Zomato. Credit: Andrea Davis / Unsplash.

Tiger Global and Kora Capital are set to invest in Zomato as part of ongoing funding round, which is expected to value the food ordering platform at approximately $3bn.

Tiger and Kora are investing $100m each, while Singapore’s Temasek Holdings is investing $60m.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Furthermore, Tiger is planning to make an additional $100m investment, following Zomato’s regain of pre-Covid-19 business volumes.

Last year, Kora invested $125m in Indian company Edelweiss.

The financial support from US and Singapore strengthens Zomato amid the uncertainty around the India strategy of its backer China’s Ant Financial, a subsidiary of Alibaba.

In January, Ant committed to investing $150m in Zomato. However, the company has only been able to access $50m to date.

Additionally, in April, India introduced new FDI rules that require regulatory approval for investments from countries that share borders with China.

These uncertainties and new laws come amid the global wave of anti-China sentiments.

Zomato’s diversification of its investor pool signifies its efforts to cut exposure to China.

Data released by Gateway House has revealed that Indian start-ups received an estimated $4bn investments from China.

Earlier this year, Zomato raised $5m from UK-based Baillie Gifford’s Pacific Horizon Investment Trust, while Temasek made a $62m investment. The fundraising came at a time when the Covid-19 outbreak has significantly impacted the food delivery business in India.

Zomato allocated 15,188 shares worth $3,997 to MacRitchie Investments, a unit of Temasek.