Zomato Injects INR 500 Cr Into Blinkit for Strategic Growth The infusion follows Zomato's INR 8,500 crore fundraising through a Qualified Institutions Placement (QIP) in November 2024, aimed at bolstering financial resources for expansion.
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Foodtech platform Zomato has invested INR 500 crore in its quick commerce arm, Blinkit, bringing its total investment in the platform to INR 2,800 crore since acquiring it in August 2022.
The infusion follows Zomato's INR 8,500 crore fundraising through a Qualified Institutions Placement (QIP) in November 2024, aimed at bolstering financial resources for expansion.
As per a regulatory filing, Blinkit's board approved issuing 2,537 equity shares at INR 19,70,181 each to raise the funds. Blinkit is aggressively scaling its operations, targeting 2,000 micro-warehouses by December 2026. Recently, it introduced Bistro, a 10-minute food delivery platform, and a Blinkit Ambulance Service in select Gurugram areas.
In Q2 FY25, Blinkit reported a 129% year-on-year revenue growth, reaching INR 1,156 crore, while its EBITDA loss narrowed to INR 8 crore from INR 125 crore a year earlier.
Simultaneously, Zomato saw a 68.5% quarter-on-quarter rise in operating revenue to INR 4,799 crore and a 4.8X surge in net profit to INR 176 crore.
This marks Zomato's second capital infusion in Blinkit within seven months, following a INR 300 crore investment in June 2024. Notably, Blinkit achieved unicorn status in 2021 after raising USD 120 million, with Zomato holding a 9% stake prior to its acquisition.
The latest investment underscores Zomato's commitment to scaling Blinkit's services and driving profitability in the competitive quick-commerce sector.
