Home >Companies >Start-ups >Zomato receives $150 million funding from Alibaba unit
Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology. Photo: HT
Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology. Photo: HT

Zomato receives $150 million funding from Alibaba unit

Ant Financial Services, a unit of China's Alibaba Group, invests $150 million in Zomato, valuing the Indian company at more than $1 billion

Mumbai: A unit of China’s Alibaba Group Holding Ltd has invested $150 million in Zomato, valuing the Indian food search and delivery service at more than $1 billion, the companies said on Thursday.

Ant Financial Services Group, Alibaba’s payment affiliate, is also buying $50 million worth of shares in secondary purchases as part of the transaction.

Zomato, which provides services across 24 countries, said it will use the funds to improve products and technology.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePapermint is now on Telegram. Join mint channel in your Telegram and stay updated

Close
×
My Reads Redeem a Gift Card Logout