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Zomato finds it hard to get $100 Mn from Ant Financial after revised FDI rule

Shortpedia

Content Team

Indian startups who have been in the middle of raising funds from Chinese investors are uncertain about successful closures due to the change in rule for capital coming in from China. Foodtech unicorn Zomato appears to be at the receiving end as the firm is finding it difficult to get proceeds from Ant Financial. Zomato had announced a $150 million fundraise from Ant Financial earlier this year.