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 4 days ago

After delay in China-based investment, Singapore's Temasek to pump $100 million in Zomato

Quick Summary

Ant Financial, an affiliate of Alibaba Group Holdings, has pumped in only $50 million - of an expected $150 million - into Zomato, according to BSE and NSE-listed Info Edge, also an early investor in the company. Hangzhou-headquartered Ant Financial is the largest institutional stakeholder in Zomato, holding a 26% stake in the company.Temasek, which first invested in Zomato in 2015, has always been in the mix to pump in further capital. It holds a 3% stake, having invested Rs 310 crore into the company, according to data collated by Tracxn. The valuation was, however, contingent on Ant fulfilling its commitment.When contacted by ET, a Zomato spokesperson declined to comment. Temasek did not reply to queries.In April, Zomato raised $5 million from Pacific Horizon Investment Trust, a fund managed by British investment manager Baillie Gifford, as a part of its ongoing round.

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