Food delivery firm Zomato to raise $150 million from Alibaba affiliate Ant Financial
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Indian food delivery firm Zomato is going to raise $150 million from investor Ant Financial, an Alibaba affiliate. Zomato's valuation will reach up to $3 billion after the funding. Zomato's top shareholder Info Edge (India) said in a filing on Friday that after the funding its stake will drop to about 25.13 per cent. The firm had a 26.38 per cent stake as of March last year. The capital is part of a larger $500 million fundraising.