Indian food-delivery and restaurant discovery platform, Zomato, has a signed a deal with Alipay Singapore Holding Pte. Ltd. to raise about $210 million. Alipay, digital payments arm of Chinese e-commerce giant Alibaba, is an existing shareholder of Zomato.
This will lead to parent company Info Edge’s shares in Zomato to be diluted down to 27.68 per cent from the currently held 30.91 per cent. On February this year, Zomato raised a $200 million round from Ant Financial at a valuation of $1.1 billion and entered the ‘unicorn’ club.
The unicorn startup has acquired 12 companies till date. Its last acquisition was that of Bengaluru-based TongueStun Food for about $18 million in September.