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Food & Beverage

Zomato invests $125m in Indian tech startups amid widening loss

Company aspires to reign over hyperlocal segment, take on Swiggy and Dunzo

BENGALURU -- Food deliverer Zomato is staking a claim in India's hyperlocal delivery segment, turning the heat on incumbents such as SoftBank-backed Swiggy and Google-backed Dunzo.

Zomato late Wednesday night announced investments of $75 million in logistics aggregator Shiprocket, taking an 8% stake, and of $50 million in deals discovery platform Magicpin, for 16%. The company in August had bought a 9.3% stake in grocery delivery startup Grofers.

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