Zomato raises Rs 184 cr from existing investor; eyes funds from Temasek

The infusion is expected to help Zomato compete with Tencent-backed Swiggy and e-commerce giant Amazon, which recently forayed into food delivery

Food delivery firm Zomato has raised Rs 184 crore from existing investor Foodie Bay Employees ESOP Trust. The infusion happened through Foodie Bay’s trustee Akriti Chopra, also the chief financial officer of Zomato, by allotting 12,015 equity shares on preferential allotment through private placement, according to the documents filed by Zomato, which were sourced from business intelligence platforms Tofler and Paper.vc. With this, Foodie Bay now has a 6.77 per cent stake in the company.

A special resolution was passed in an extraordinary general meeting on August 19, 2020, for the infusion. An employee stock ownership plan (ESOP) is an