Zomato raises $ 60 m from Temasek and Vy Capital (Daily Financial Times (Sri Lanka))
Zomato, the restaurant search and discovery app, has announced that it has raised $ 60 million in a fresh round of funding that is being led by Singapore investment company, Temasek with participation from existing investor Vy Capital and will use the investment to further grow its new business verticals. This takes Zomato’s total funding to $ 225 million and it comes from a close set of only four investors – Info Edge, Sequoia India, Vy Capital, and now Temasek.
Founded in 2008, Zomato is headquartered in India, and employs over 3000 people across 22 countries. Available on web and mobile, Zomato provides detailed restaurant information such as menus, contact details, pictures, geocoded maps, and user reviews, for 1.4 million restaurants. Zomato sees over 90 million visits across its web and mobile platforms every month.
Just last week, Zomato made strategic investments in Gurgaon-based Pickingo, and Mumbai-based Grab, both hyperlocal delivery players, to enable last-mile delivery for restaurants including dine-in-only restaurants that don’t otherwise deliver.
Deepinder Goyal, Founder and CEO of Zomato, said, We will use this round to make investments in our new businesses such as online ordering, table reservations, point of sales, and our newly launched Whitelabel platform. With this round, and with some of our markets turning profitable recently, Zomato is well capitalised for at least two years. We are also stoked to have Temasek partner with us, and are looking forward to building one of the largest food-tech companies in the world.
Zomato also announced the launch of its Whitelabel Platform ( zomato.com/whitelabel), a full suite of technologies for restaurants to run their business on the internet. The key feature on the platform is the ability for restaurants to launch custom-branded native mobile apps to help them connect with and engage their customers, and operate at internet scale.