Food delivery startup Zomato has closed a $660 million primary financing round at a post-money valuation of $3.9 billion. This is an increase from its previous valuation of $3.6 billion.
Zomato CEO Deepinder Goyal said, “Food delivery in India is rapidly coming out of COVID-19 shadows. December 2020 is expected to be the highest ever GMV month in our history. We are now clocking ~25% higher GMV than our previous peaks in February 2020.” Goyal tweeted, “On top of this $660m, we are in the process of closing a $140m secondary transaction. As part of this transaction, we have already provided liquidity worth $30m to our ex-employees.”
He also tweeted, “I am grateful for their contribution in building @zomato and am glad that we created some wealth for these super amazing people. A number of these ex-zomans are busy working on their own startups and will not need to raise seed capital from external investors. I am supremely excited about what lies ahead and the impact that we will create for our customers, delivery partners, and restaurant partners.”
Zomato has delivered over 150 million orders since the first lockdown started in March. It had said there have been zero reported cases of Covid transmission through food or its packaging.
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