India’s IndusLaw has advised food delivery app Zomato on its $660 million fundraising from companies including Fidelity Management & Research Company and Tiger Global Management, which were counselled by AZB & Partners.

The other companies that invested in the app included Kora, Luxor, D1 Capital, Baillie Gifford, Mirae and Steadview.

According to Reuters, the fundraising values the company at $3.6 billion.

Zomato, like many other startups in India, has been grappling with the economic fallout of a two-month nationwide lockdown earlier this year to curb the spread of coronavirus. It diversified into grocery and alcohol deliveries as a way to sustain itself during the pandemic, Reuters added.

Partners Suneeth Katarki and Pallavi Kanakagiri led the IndusLaw team while the AZB team was led by partners Ashwath Rau, Vipul Jain and Jasmin Karkhanis.

 

To contact the editorial team, please email ALBEditor@thomsonreuters.com. 

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