Zomato to pump in Rs 300 crore in quick commerce unit Blinkit

TFW Bureau
TFW Bureau Jun 11, 2024 - 1 min read
Zomato to pump in Rs 300 crore in quick commerce unit Blinkit image
Latest investment to help Blinkit compete with Swiggy and Zepto

Food delivery company Zomato will infuse Rs 300 crore into its quick commerce unit Blinkit, as per regulatory filings made with the Registrar of Companies (RoC).

With this, Gurgaon based Zomato has infused nearly Rs 2,300 crore since acquiring Blinkit in August 2022. Zomato acquired Blinkit, formerly known as Grofers, in an all-stock deal for Rs 4,477 crore.

The latest investment in Blinkit will provide fresh armour for it to take on its competitors like Swiggy Instamart and Nexus Venture Partners-backed Zepto. This, as the competition in the quick commerce space is intensifying by the day.

In fiscal 2024, Blinkit reported revenues of Rs 2,302 crore, more than double of Rs 1,064 crore in FY23.

Besides Blinkit, Zomato will pump Rs 100 crore in Zomato Entertainment Pvt Ltd – the unit that runs the company’s live events and ticketing business.

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