News > Zomato to invest $1 billion in startups

Zomato to invest $1 billion in startups

Zomato Ltd plans to invest $1 billion in startups over the next two years, founder and chief executive Deepinder Goyal said on Wednesday, even as the food delivery company’s loss widened on higher customer acquisition costs.

The food delivery startup has agreed to spend $75 million for an 8% stake in Bigfoot Retail Solutions Pvt. Ltd, which runs business-to-business (B2B) logistics technology player Shiprocket.