Deepinder Goyal, Founder, Zomato, plans to invest additionally Rs 300 crore in its quick commerce arm Blinkit. According to the reports, Zomato has already invested Rs 2,300 crore since its acquisition in August 2022.
The infusion is a result of giant e-commerce websites Flipkart and JioMart being set to put their steps in the quick commerce space. Along with this, the existing competitors such as Swiggy, Instamart and Zepto are also aggressively scaling up their operations and offerings to compete better with Blinkit.
Prior to completely taking over Blinkit in an all-stock deal in 2022 for Rs 4,477 crore, Zomato owned a nine per cent stake in the quick commerce major.
Zomato, in its quarterly earning May report, revealed that it is planning to increase its dark store count to 1,000 by the end of March 2025 as against 562 at the end of March 2024.
The quick commerce platform clocked revenue of INR 769 Cr in the fourth quarter (Q4) of fiscal year 2023-24 (FY24) as against INR 363 Cr in the year-ago period.
