Tag: zomato

Zomato raises $5mn from Pacific Horizon Investment Trust

Gurugram-based foodtech unicorn Zomato recently announced that it has raised $5mn in its Series J funding round. The funding round was led by Pacific Horizon Investment Trust PLC through its agent Baillie Gifford and Company. According to company regulatory filing, Pacific Horizon has been allotted 1,177 Compulsorily Convertible Cumulative Preference Shares (CCCPS). Each of these…

Swiggy raises $43mn in series I funding round

Food delivery platform Swiggy has recently raised $43mn in its ongoing Series I funding round. The funding round was led by existing investor Tencent and saw participation from Ark Impact Asset Management, Korea Investment Partners (KIP) and MACM India Growth Fund. The company had initiated its Series I round in February and had raised $113…

Coronavirus Impact: Zomato employees take voluntary pay cuts

Taking into consideration the impact of the coronavirus pandemic on businesses, Zomato recently announced that hundreds of its employees are taking a voluntary deep cut in salaries to help the company sustain. In a series of tweets, Zomato CEO Deepinder Goyal announced that hundreds of employees have taken deep voluntary salary cuts to help the…

Uber to enter Indian fintech market with Uber Money

Ride-hailing startup Uber has recently announced that it would strengthen its fintech process in India with the formation of Uber Money. It has even set up a team of over 100 technology professionals responsible for global financial products and technology innovations, at its Hyderabad Tech center. With the announcement, the company has surprised many who…

Uber to assist 245 stranded UberEats employees

Adding to the long list of layoffs by major startups, 245 employees of UberEats India are now on the verge of getting the pink slip after the company’s acquisition by Zomato.  According to a report by The News Minute, these employees have been asked to leave the company by March this year. While 163 of…

Zomato acquires UberEats in an all-stock deal

Zomato Media Private Ltd has announced to acquire Uber’s Food Delivery Business in India, UberEats, in an all-stock transaction.  As per a stock exchange filing by Zomato, the deal gives Uber a 9.99% stake in the company. Post-acquisition, UberEats will discontinue operations in India that include direct restaurants, delivery partners and users of its apps.…

Zomato raises ₹354 cr in fresh funding from Antfin Singapore

Zomato raises ₹353.58 crore in fresh funding from Antfin Singapore, according to the company’s filings reported in the business intelligence platform Tofler. The funding, part of the Zomato’s Series J financing round, is the first tranche of the $150-million fund raise announced by the company last week. Post this investment, Zomato’s fund tally will stand…