Zomato infuses Rs 300 cr in quick commerce arm Blinkit
According to regulatory filings, food delivery giant Zomato has pumped Rs 300 crore in fresh capital into quick commerce subsidiary Blinkit. This takes the total investment in Blinkit, acquired last August, to Rs 2,300 crore. Zomato bought Blinkit in a distress sale for Rs 4,447 crore, half its earlier valuation.
The additional funds come amid fresh fundraising by rival Zepto and Flipkart’s planned quick commerce pivot. Swiggy is also stepping up investments in Instamart.
Blinkit adjusted EBITDA positively in the March 2024 quarter as average order value and volume grew. Fourth quarter revenue surged to Rs 769 crore from Rs 363 crore year-on-year.
Adjusted EBITDA loss narrowed from Rs 203 crore to Rs 89 crore over the same period. Gross order value jumped 97% to Rs 4,027 crore in Q4 FY24.
The quick commerce leader expanded its presence to 26 cities with 526 dark stores. Zomato is increasingly prioritizing the high-growth segment, challenging incumbents on various fronts.
The capital infusion signals Zomato’s confidence in Blinkit’s scalability amid mounting competition for quick commerce dominance in the country.
