Food delivery partner Zomato is planning to invest in two Indian tech companies - Adonmo Private Limited and UrbanPiper Technology Private Limited.

The company is buying a 19.48 percent stake in ad-tech company Adonmo for an aggregate cash consideration of Rs.112 crore, whereas it will purchase five percent equity in B2B software platform UrbanPiper for Rs.37.38 crore.

Reports suggest that, both UrbanPiper and Adonmo investments are synergistic to company’s core business and will help accelerate the growth of these companies by filling important gaps in the food ordering and delivery ecosystem.

UrbanPiper is a B2B software platform that acts as a ‘middle layer’ between restaurants and food ordering and delivery players. With the investment, Zomato hopes to fuel UrbanPiper's penetration in the restaurant industry.

AdonMo is an ad-tech company that is taking targeted digital advertising beyond personal devices to outdoor digital screens.

Growth in Adonmo's platform will help in food ordering and delivery business to leverage new digital avenues for customer acquisition, according to the reports.

The proposed investments are each subject to fulfilment of certain customary conditions precedent and other terms and conditions agreed under the investment agreements.

According to the reports, the exchanges that the board in its meeting held also approved incorporation of wholly owned subsidiary of the company as Non- Banking Finance Company (NBFC).

Recently Zomato had faced a low of Rs. 84 which was also firm’s 52-week low in the stock staged a massive recovery of 19.5 per cent last week. Shares of the company have been facing massive selling pressure over the past few days as panic selling gripped global stock markets, and especially tech companies. The Company’s shares have corrected 24 percent over the past five sessions and have crashed a staggering.