In brief: Zomato bags $40m from US investor

Online restaurant discovery and food-delivery platform Zomato has raised roughly US$40 million in funding from US-based investor Glade Brook Capital Partners. This is part of the company’s series I round, which began with Ant Financial’s US$210 million investment in October.

Source: ET Tech

This follows several deals made by the India-based firm, including the acquisition of online catering marketplace TongueStun in September and its partnership with Paytm a month ago. Zomato ended fiscal year 2018 with a 40 percent growth in revenue at US$65 million.

Meanwhile, it’s competitor Swiggy bagged a US$1 billion round in December.