Zomato will invest 300 crore rupees in its quick commerce unit Blinkit, according to mint's report.
This latest investment brings Zomato's total investment in Blinkit to 2,300 crore rupees since acquiring it in August 2022.
In addition to the investment in Blinkit, Zomato will also put in 100 crore rupees into its subsidiary, Zomato Entertainment Pvt Ltd, which manages live events and ticketing.
Also read/watch - Govt to decriminalise minor tax offences within 100 days: Report
This strategic move comes as Blinkit faces stiff competition from Swiggy Instamart, Zepto, and Tata BigBasket in the quick commerce sector.
The report further adds that Zomato's commitment to strengthening Blinkit's position in the retail grocery segment, emphasizing the unit's growing importance to Zomato's overall strategy to stay ahead of its rivals.
The Gurugram-based Zomato acquired Blinkit, formerly known as Grofers, in an all-stock deal for for 4,447 crore rupees.