Zomato in talks to invest in India’s Shiprocket, Magicpin and CureFit – TechCrunch

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Indian food delivery firm Zomato is in talks to back logistics firm Shiprocket, savings app Magicpin, and health and fitness firm CureFit, four people familiar with the matter told me.

All these investment talks are at final stages and some may close as soon as this week, one of the sources said.

The investment in Shiprocket is part of a broader round that is being led by Singapore’s Temasek, according to two sources familiar with the matter. Indian newspaper Economic Times first reported about Temasek and Shiprocket talks. MoneyControl also reported about some of these talks and Zomato’s investment strategy.

Deepinder Goyal, co-founder and chief executive of Zomato, has explored investment opportunities in his personal capacity as well as through the firm in at least over half a dozen startups in recent months, according to sources at many of those firms.

In June, the publicly listed firm Zomato invested $100 million in online grocer Grofers, and according to two people familiar with the matter, has told the younger firm that it is open to fully acquiring it at a later stage if certain metrics are achieved.

Zomato didn’t immediately respond to a request for comment.

This is a developing story. More to follow…



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