Zomato raises Rs 284 cr from Uber, Airbnb investor Glade Brook Capital

The funding would help Zomato compete with rivals such as Swiggy, Uber Eats and Ola-owned Foodpanda, which are also betting big on the online food ordering and delivery market in the country

Online restaurant guide and food ordering startup Zomato has raised Rs 284 crore from US-based investor Glade Brook Capital Partners which counts companies such as Uber, Airbnb and Snapchat among its portfolio firms. The financing is part of Zomato’s Series I funding round that started in November 2018 when Alibaba-backed Ant Financial invested Rs 1,539 crore in the New-Delhi based firm. Zomato allotted 13,000 ‘compulsorily convertible cumulative preference shares’ for Rs 2,18,790 per share to Glade Brook to raise the funding, according to regulatory documents filed by Zomato, which were sourced from business signals platform paper.vc.
 
The funding would