BENGALURU: Gurugram-based meals supply startup Zomato has pumped in Rs 500 crore into its fast commerce enterprise Blinkit, bringing the overall funding to Rs 2,800 crore because it acquired the corporate in 2022. The newest infusion comes on the heels of Zomato elevating Rs 8,500 crore by means of a professional institutional placement in November, which it mentioned could be to strengthen its stability sheet amidst rising competitors.
India’s fast commerce sector is heating up as gamers comparable to Blinkit, Zepto, Dunzo, and Swiggy Instamart battle for dominance within the burgeoning market. Brokerage home Jefferies expects consolidation within the meals supply and fast commerce house.
