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Following a $120 million funding round from Zomato and New York-based investment firm Tiger Global, Blinkit had become a unicorn last year, or a privately owned company with a valuation of $1 billion or more.
According to information from market watcher Tracxn, Blinkit has so far raised $692 million from investors such as Japan's SoftBank, DST Global, and Tiger Global. Currently, Zomato owns around 9% of Blinkit.
The owners of Blinkit will get about 7% of Zomato at a share price of 70.76 under the terms of the agreement.