• Chethan Machaknur

Zomato loses access to $100 million funding from Chinese investor

Zomato has been unable to access around $100 million from Ant Financial, its biggest Chinese investor, due to the impact of India’s new foreign investment laws.The new law states that all the foreign investments from countries that share land borders with India has to get approval from the government of Indiato curb "opportunistic takeovers" of domestic firms.

“The shortfall has not changed the company’s overall business plan, including a planned initial public offering in 2021,” a person at Zomato told.

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