Food delivery startup Zomato secures $62m from Temasek

zomato

Fast-rising food delivery startup Zomato has closed $62 million from Temasek, resuming a financing round that it originally expected to close in January this year.

Singapore’s state investment arm Temasek financed the capital through its unit MacRitchie Investments, a regulatory filing showed. Business intelligence firm Tofler shared the filing with TechCrunch.

The food delivery startup, which has improved its financial performance in recent quarters despite the coronavirus outbreak, announced in January that Ant Financial had committed to providing it with $150 million.

In April this year, India made a change to its foreign investment policy that requires Chinese investors who have ploughed billions of dollars into Indian startups in recent years to take approval from New Delhi before they could write new checks to Indian firms.

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