Food-tech unicorn Zomato, which is gearing up for a public listing in the first half of 2021, is set to raise a little more than $146.5 million as part of its ongoing Series J round of funding. Pacific Horizon Investment Trust had previously invested $5 million in Zomato in March this year. As Zomato looks to go public, losses for the firm haven’t seen any significant improvement. Although Zomato doubled its revenue to $394 million in 2019-20, losses increased to $293 million from $277 million in 2018-19. Analysts, however, said the losses would not impact Zomato’s IPO aspirations.

Source: Mint November 06, 2020 15:22 UTC