Zomato will give a loan of $150 million to Blinkit. The loan will be given to Blinkit at an interest rate of 12 per cent per year. “This loan will support the capital requirements of GIPL in the near term and is in line with our goal of investing $400 million cash in quick commerce in India in the next two years,” Zomato said in its public filing. Zomato had invested $100 million in the Blinkit last year, taking about 10 per cent in the company at a valuation of over $1 billion. Currently, Blinkit has an on-ground workforce of 30,000 and has opened 450 new warehouses and dark stores to raise its Q-commerce plans.

In its regulatory filings, Zomato had also said that it had acquired a 16.66 per cent stake in Mukunda Foods Private Limited for $5 million. “Mukunda helps restaurants become more efficient by decreasing workforce cost, wastage and increasing kitchen throughput. Our investment will help Mukunda Foods grow faster, lower restaurant food prices, expand margins, and improve customer delight,” the company added.