Zomato eyes Temasek Rescue Act as China FDI scrutiny complicates fundraising
Shortpedia
Content Team
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After increased scrutiny over Chinese investments in the new FDI rules put a halt to ANT Financial’s bid to gain a further stake in Zomato, the foodtech giant is now looking to raise the amount from Singapore-based VC Temasek. Reportedly, the deal was almost finalised but the terms of the deals are being renegotiated due to the impact Covid-19 had on Zomato’s business. Temasek started investing in Zomato in 2015.
