The Bengaluru-based firm was among the largest advertisers in the FMCG category during the recently concluded India Premier League (IPL), spending Rs 10 crore on television advertising.
The FMCG major had last month acquired two South Africa-based firms D&A Cosmetics Proprietary and Atlanta Body & Health Products Proprietary through its subsidiary.
The firm has also been receiving investor interest from global strategic players and family offices and is likely to close a larger round of investment by FY19-end.
The Japanese technology conglomerate’s talks with Zomato come six months after it first held conversations exploring a possible funding of up to $200-250 million in Bengaluru-based Swiggy.
Orkla Group, the parent company of MTR Foods, had set up the Rs 50 crore venture fund, christened MTR Seed Fund, last year to invest mainly in food tech-related startups in India over 2017 and 2018.