Total amount raised
$1.3 Billions
Latest funding date
Location
Title
Blinkit has successfully raised significant funding over multiple rounds, culminating in its acquisition by Zomato for $725 million. The platform specializes in delivering groceries, household essentials, and other daily needs in minutes.
Keep reading to explore the intricacies of Blinkit's fundraising journey and the investors backing this innovative quick-commerce platform.
What Is blinkit?
Blinkit, founded in December 2013 in Gurgaon, Haryana, India, is a quick-commerce platform specializing in the rapid delivery of groceries and household essentials. The company was established by Albinder Dhindsa, Rishi Arora, and Saurabh Kumar.
Operating on a dark store model, Blinkit ensures swift order fulfillment by utilizing micro-warehouses in high-demand urban areas. This innovative approach allows them to deliver fresh produce, dairy, snacks, beverages, and home essentials within minutes.
With a workforce of 1001-5000 employees, Blinkit has grown significantly, culminating in its acquisition by Zomato. The platform continues to revolutionize the quick-commerce industry with its efficient delivery services.
How Much Funding Has blinkit Raised?
- Series F
- Amount Raised: Not publicly disclosed
- Date: December 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and improve delivery infrastructure.
- Venture Round
- Amount Raised: $55M
- Date: November 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance technology.
- Series G
- Amount Raised: $120M
- Date: June 2021
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth in the quick-commerce sector.
- Series G
- Amount Raised: $16.7M
- Date: September 2021
- Lead Investors: KTB Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the network of dark stores.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: February 2022
- Lead Investors: Tiger Global Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Convertible Note
- Amount Raised: $100M
- Date: March 2022
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and reduce burn rate.
- Debt Financing
- Amount Raised: $150M
- Date: March 2022
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage cash flow and operational expenses.
- Corporate Round
- Amount Raised: ₹3B
- Date: June 2024
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand delivery capabilities and market presence.
- Corporate Round
- Amount Raised: ₹5B
- Date: January 2025
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technology and infrastructure.
- Corporate Round
- Amount Raised: ₹15B
- Date: February 2025
- Lead Investors: Zomato
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market leadership and drive innovation.
Blinkit has raised a total of $446.7M. The current valuation is Not publicly disclosed.
Key Investors
- Zomato
- Details: Zomato is an Indian multinational restaurant aggregator and food delivery company. It was founded in 2008 and has since expanded its services to include quick-commerce through its acquisition of Blinkit.
- Investment Focus Areas: Food delivery, restaurant discovery, quick-commerce.
- Notable Investments: Blinkit, Uber Eats India, Fitso.
- Tiger Global Management
- Details: Tiger Global Management is an American investment firm that focuses on public and private companies in the global Internet, software, consumer, and financial technology industries. It was founded in 2001 by Chase Coleman III.
- Investment Focus Areas: Internet, software, consumer, financial technology.
- Notable Investments: Facebook, LinkedIn, Spotify.
- KTB Ventures
- Details: KTB Ventures is a venture capital firm based in South Korea. It invests in early to growth-stage companies across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Coupang, Kakao, Naver.
What's Next for blinkit?
The quick commerce market is booming, and Blinkit is well-positioned to capitalize on this growth. With a $100 million investment from Zomato and plans to raise an additional $300 million, Blinkit aims to expand its services and infrastructure. The market potential is significant, with the quick commerce sector in India expected to reach $5 billion by 2025.
Future fundraising opportunities look promising as Blinkit continues to attract interest from investors. However, the company faces challenges such as intense competition from players like Swiggy and Zepto, and the need to streamline operations. Despite these hurdles, Blinkit's strategic focus and strong backing from Zomato could help it navigate these challenges and achieve its growth ambitions.
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