Investment Overview
The foodtech company Zomato has made a significant investment of Rs 500 crore in its quick commerce division, Blinkit. This brings the total investment in Blinkit to Rs 2,800 crore since Zomato acquired the platform in August 2022. The recent funding follows Zomato’s successful raise of Rs 8,500 crore via a Qualified Institutions Placement (QIP) in November 2024, intended to bolster its financial resources for strategic growth.
According to a regulatory filing with the Registrar of Companies, Blinkit’s board has authorised the issuance of 2,537 equity shares priced at Rs 19,70,181 each to generate the Rs 500 crore funding.
Operational Expansion Plans
To enhance its operations, Blinkit aims to establish 2,000 micro-warehouses by December 2026. Recently, the platform launched Bistro, a rapid food delivery service promising deliveries within 10 minutes, in addition to introducing a 10-minute Blinkit Ambulance Service in select areas of Gurugram.
Financial Performance
In the second quarter of FY25, Blinkit experienced an impressive 129% year-on-year increase in revenue, reaching Rs 1,156 crore. Furthermore, the EBITDA loss was significantly reduced to Rs 8 crore from Rs 125 crore during the same period last year. In parallel, Zomato reported a remarkable 68.5% quarter-on-quarter rise in operating revenue, hitting Rs 4,799 crore. Additionally, there was a 4.8 times increase in net profit, which reached Rs 176 crore.
Previous Investments
This latest capital injection marks Zomato’s second investment in Blinkit within just seven months, following an earlier investment of Rs 300 crore in June 2024. Before the full acquisition, Zomato held a 9% stake in Blinkit, which achieved unicorn status in 2021 after securing $120 million in funding.
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