Zomato Pumps Rs 300 Crore In Blinkit, Rs 100 Crore In Events Arm
Blinkit is also set to add another 474 dark stores in the next 12 months, setting the stage for a turf war with Swiggy Instamart and Zepto.
Zomato Ltd. has invested Rs 300 crore in its quick commerce arm, Blinkit, as the burgeoning segment is poised to overtake its core food delivery business.
The board of the Deepinder Goyal-led company passed a resolution to invest Rs 300 crore in Blinkit Commerce Pvt., according to filings made with the Registrar of Companies and accessed via TheKredible.
Separately, it will invest Rs 100 crore in Zomato Entertainment, which is the company's events arm. It curates and sells tickets for concerts, parties, and festivals.
The fresh boost for Blinkit comes at a time when the Albinder Dhindsa-led firm has proven to be a turnaround story and now stands as a larger driver of shareholder value, carrying more potential than the food delivery business, which has been soft over the past few quarters.
Blinkit is also set to expand aggressively, adding another 474 dark stores or mini-warehouses in the next 12 months, nearly doubling its store count, setting the stage for a turf war with Swiggy Instamart and Zepto.
Zomato had acquired Blinkit, then known as Grofers, in 2022 for Rs 4,447 crore in an all-stock deal.
