Zomato

Zomato, which is the restaurant discovery and online food ordering service has now secured Rs 284 crore in the funding round from the US investor Glable Brook Capital Partners as a part of its Series I funding round.

The firm has now issued 13000 Class 1 preference shares to the investor on 5th of February, according to the report which has been revealed, the funding raised the capital at a valuation of around $2 Billion.

Some of the reports, also revealed in January that Zomato was in talks to raise around $1 Billion to take on the rival Swiggy. Both the companies are lacked in the battle for the leadership in India fast-growing online food ordering space.

In January, the company also claimed that it had achieved around 28 Million monthly order run rate as of December monthly users.

Zomato dines in subscription service god, also claims to have brought around on board 7 lakh members and more than 6000 restaurants partners up from 6 lakh members, and 4000 restaurants.  The company reward program also had 2 million subscribers, as of December 2018, Zomato said in a report last month.

Zomato has also been soon rolling out new initiatives like its events business Zomaland to expands its beyond food delivery segment.

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