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Zomato is planning to launch a Qualified Institutional Placement (QIP) targeting $1 billion in December 2024, with Morgan Stanley as its advisor. This move is part of Zomato's strategy to strengthen its financial position and support future growth initiatives. The announcement comes amid a broader context of rising startup funding in India, which has seen a 10.6% increase year-on-year, totaling $164.8 million this week across 21 deals. The QIP is expected to attract significant investor interest as Zomato continues to navigate the competitive food delivery market.
🚨 In a new edition of ETtech #Unwrapped, we look at the most important tech and startup stories this week. 🧵
After a slow week last week, big rounds saw a good rebound with seven startups raising $100 million or more. While food delivery led the way, it also was a good week for aerospace, AI, biotech and defense. https://t.co/MnetQxToNp
#MCTech3: Top tech and startup news this evening👀 One quick thing: Why https://t.co/Uels26lWRA ⚡️Zepto's burn tops Rs 250 crore per month ⚡️Cred-owned Spenny applies for stock broking licence ⚡️Why the next big thing in AI isn't coming so fast Sign up for the newsletter👇… https://t.co/lqsJ9rEWpf
