Mumbai, September 10: Zomato, one of the leading online food delivery service provider, has bagged another major investment amid the COVID-19 pandemic. Over USD 100 million has been raised by Zomato from Tiger Global Management. With funds to this tune being pumped in, Zomato's market valuation has peaked to USD 3.4 billion. Zomato Introduces 10 Days Annual 'Period Leaves' for Female & Transgender Employees! CEO Deepinder Goyal Talks About Stigma Attached to Menstruation.

Reports on Thursday confirmed that the foodtech unicorn, as part of its Series J Funding, has received an amount of USD 102.5 million from Tiger Global Management. With the latest investment, the Gurugram-based food aggregator has succeeded in raising USD 319.5 million so far in the year 2020.

The surge in investments in Zomato continues despite the company reporting a dip in revenue this year. The total earnings so far was restricted to $41 million, with the company reporting a loss of USD 12 million due to the onset of pandemic.

Zomato has so far laid off 1,300 employees, as the food delivery business has been grounded due to the coronavirus outbreak. CEO Deepinder Goyal, in a statement issued earlier, had claimed that he feared nearly 40 percent of restaurants downing their shutters due to the pandemic impact.

Despite its strained condition, the company has succeeded in pulling off four major investments this year. Before Tiger Global, it raised amounts of $62 million, $5 million and $150 million from Temasek, Pacific Horizon Investment Trust and Ant Financial, respectively.

(The above story first appeared on LatestLY on Sep 10, 2020 04:34 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).