Zomato raises $250 million in funding from Tiger Global, Kora and others

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Ahead of a potential initial public offering food delivery firm Zomato has raised $250 million led by existing investor Kora Management. Fidelity Management, Tiger Global besides new investors such as Bow Wave Capital Management and Dragoneer Investment Group also participated in the round.

"The transactions valued Zomato at a post-money valuation of $5.4 billion," the company's early investor InfoEdge said in a regulatory filing.

While Kora Management invested $115 million, Fidelity Management pumped in $55 million in the company.

The company plans to launch its initial public offering this year.

If the IPO happens, it will be the first among India’s modern consumer internet startups, and India’s first internet IPO since companies such as Infoedge (which owns Naukri.com) and MakeMyTrip.

Zomato last announced a $660 million fundraise in December with ten new investors including Tiger Global, Kora, Luxor, Fidelity (FMR), D1 Capital, Baillie Gifford, Mirae, and Steadview, participating in the round.