Ahead of IPO, Zomato nears $500 Mn fundraising round

Ahead of a potential listing on exchanges, Zomato is on the verge of closing a $500 Mn investment that would value the Gurugram-based company at around $5.5 Bn.Existing investors Tiger Global, Kora Investments, Steadview, Fidelity, Bow Wave, Vy Capital along with new backer Dragoneer Group, will participate in the financing round.

The fundraising will include a mix of primary cash infusion of $250 Mn by existing backers and a similar amount via a secondary sale of shares by Chinese investors Ant Group (an affiliate of Alibaba) and Sunlight Fund.