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Zomato raises $102 million from Tiger Global, valued at $3.4 billion

US-based Tiger Global has invested $100 million in Zomato, according to an ROC filing.

September 10, 2020 / 10:12 PM IST

Food delivery firm Zomato has raised $102.5 million led by Tiger Global Management, at a time when the sector has taken a beating from the pandemic, and will give Zomato ammunition to grow.

Zomato has raised Rs 760 crore, valuing it at $3.4 billion, according to regulatory filings. Moneycontrol first reported on August 9 that Tiger is in talks to back Zomato.

This is in addition to the $62 million it raised from sovereign fund Temasek earlier in September.

Moneycontrol had first reported the story on August 9.
The deal also finally gives Tiger- one of India’s most prolific startup investors- a stake in one of its biggest sectors. Tiger had not invested in Zomato, its rival Swiggy, or anyone else in the sector so far.