Unews World
BENGALURU: Gurugram-based food delivery startup Zomato has pumped in Rs 500 crore into its quick commerce business Blinkit, bringing the total investment to Rs 2,800 crore since it acquired the company in 2022. The latest infusion comes on the heels of Zomato raising Rs 8,500 crore through a qualified institutional placement in November, which it said would be to strengthen its balance sheet amidst growing competition.
India’s quick commerce sector is heating up as players such as Blinkit, Zepto, Dunzo, and Swiggy Instamart battle for dominance in the burgeoning market. Brokerage house Jefferies expects consolidation in the food delivery and quick commerce space.
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