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Zomato announces $100 mn deal with Curefit, buys stake in Magicpin and Shiprocket

Online food delivery giant Zomato Ltd has announced a series of agreements to scale up its business.

The food delivery giant on Wednesday said it is in the process of selling Fitso to Curefit (Curefit Healthcare Pvt Ltd) for $50 million.

Apart from that, Zomato will also invest $50 million cash in Curefit plus value of the Fitso business (worth $50 million) will give us a cumulative shareholding worth $100 million in Curefit (6.4% shareholding in Curefit).

“This will help us potentially explore cross-selling benefits between Zomato and Curefit, as we see food and health becoming the same side of the coin in the long term,” Zomato said

Further, Zomato has signed definitive documents for investing $75 million in Shiprocket for a 8% stake as part of a larger $185 million round.

Shiprocket is a B2B logistics-tech company that enables online commerce by providing seamless shipping and fulfillment services to direct-to-consumer (D2C) brands and omni-channel sellers.

The company has also inked a pact with magicpin, $50 million in Samast Technologies Pvt Ltd for a 16% stake as part of a total round size of $60 million.

magicpin drives omni-channel growth for local retailers. It has a network of 170,000+ paying merchants in categories including fashion, food, electronics, grocery, pharma, entertainment across 50 cities in India.

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