News Update

Zomato Ltd plans to invest $1 billion in startups

• ByStartupStory     |    November 11, 2021

Deepinder Goyal, the founder and CEO of Zomato Ltd, said on Wednesday that the business wants to invest $1 billion in startups over the next two years, despite the company’s deficit widening due to rising customer acquisition costs.Zomato was in talks to invest $75 million in Shiprocket, according to Moneycontrol.

Moneycontrol was also the first to reveal on November 10 that the corporation has a wider intention to invest in a number of startups, including Magicpin.Curefit and Magicpin are separate equity offerings from Shiprocket, which is part of a $185 million investment the business is raising.

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