Alibaba Antfin Singapore injects 50 million dollars into Zomato

BENGALURU: online delivery platform Zomato , valued at $ 3 billion, received a new infusion of $ 50 million (Rs 354 million rupees) from Antfin Singapore, according to documents from Paper VC. Existing investor Antfin Singapore Pte Ltd had invested $ 137 million in February 2018 and $ 217 in November 2018.

Earlier this month, another existing investor InfoEdge informed the BSE that it intends to sell Zomato shares worth $ 150 million (Rs 1,062.7 crore) to Antfin Singapore. With closure of the sale, InfoEdge's stake in Zomato would reduce to 25.13%, the company said in its BSE filing.

Other investors in Zomato, which currently delivers more than 1.3 million orders a day from 1.5 lakh restaurants in India, include Vy Capital, Sequoia Capital and Singapore-based Temasek. This funding comes when Zomato is apparently looking to buy UberEats' India business for around $ 400 million.