Zomato raises $52 million from US-based Kora Investments

Foodtech unicorn Zomato has raised $52 million from US-based Kora Investments, continuing efforts to bolster its cash reserves at a time when the food delivery sector is rebounding from the ravages of the Covid-19 pandemic.

The capital was raised as part of an ongoing round that is expected to raise as much as $600 million. It has seen Zomato raise more than $270 million so far this year. In September, Zomato closed a $62 million funding from MacRitchie Investments, a unit of Singapore’s Temasek, and an additional $103 million from US-based hedge fund Tiger Global.

Kora is expected to make a follow-up investment of a larger amount in Zomato in the coming months, said a person aware of the talks.