Foodtech main Zomato has raised Rs 760 crore or $102.5 million in its Series J investment round from Tiger Global Management. This investment tranche has come after the corporation closed a $62 million fund from Temasek’s MacRitchie Investments.

The fresh funds for the Gurugram-based corporation could assist it in ramping up its boom and address its deep-pocketed rival Swiggy. Importantly, that is the maiden bet through the US-based hedge fund in Indian on-line meals ordering space.

Zomato has made an allotment of 25,313 Class J desire stocks at an issue price of Rs 3,09,235 according to share to elevate the amount, indicates regulatory filings.

Post allotment, Tiger Global could command a 3.01% stake in the corporation. Fintrackr’s calculations estimate that Zomato could be valued at $3.4 billion, post-money. The corporation was valued at $3.25 billion whilst it raised $5 million from Scotland-based Pacific Horizon Investment Trust in April in advance this year.

So far, Zomato has picked up around $167 million in external investment in 2020. Prior to Temasek’s funding in August, the meals-tech corporation had scored $5 million from Pacific Horizon Investment Trust in March 2020.

The infusions from MacRitchie Investments and Tiger Global additionally demonstrates the sturdy confidence of buyers in Zomato’s business. The fresh tranches could offer a much-wanted runway to Zomato that has been not able to elevate funds from one of its biggest backers Ant Financial because of a ban on overseas direct funding under the automated path from nations that percentage a border with India.

A current media record additionally recommended that Zomato could boost around $250 million from Temasek, Tiger Global, and Kora Capital. While Temasek and Tiger Global have made their play, Kora Capital’s likely $a hundred million can also additionally come soon.

While the entire shareholding sample could be out after the coof allotment of the Series J spherical, Entrackr had decoded the pinnacle person stakeholders and their worth.

Zomato’s co-founder-Pankaj Chaddah and chief executive officer, Deepinder Goyal is the most important person stakeholder in the corporation, controlling a 7.7% stake worth nearly $245.2 million. The different co-founder Pankaj Chaddah, who moved on from Zomato in 2018 to release MindHouse, instructions a 1.75% stake in Zomato as according to the latest list of shareholders filed through the corporation.