Masterstroke by Zomato founder Deepinder Goyal, invests Rs 500 cr in Blinkit

Blinkit, a market leader in the quick commerce segment, has secured Rs 500 crore in fresh funding from its parent company, Zomato. According to filings with the Registrar of Companies (Roc) sourced via Tofler, Zomato's board approved the issuance of 2,537 equity shares at Rs per share, amounting to the Rs 500 crore infusion. This brings Zomato's total investment in Blinkit to approximately Rs 2,800 crore.

Strategic Funding Amid Rapid Expansion

The latest investment follows Zomato's Rs 8,500 crore (-$1 billion) fundraising through a Qualified Institutional Placement (QIP) in November last year. Out of these proceeds, Rs 2,137 crore was earmarked for Blinkit to bolster its operations by investing in dark stores and warehouses.

Zomato has consistently emphasized Blinkit's significance as a cornerstone of its business. In June last year, Blinkit received Rs 300 crore from Zomato, with the company stating that the quick commerce unit would surpass its core food delivery segment in importance. In April 2023, Blinkit's implied valuation exceeded that of Zomato's food delivery division, underlining its rapid growth trajectory.