bizEDGE NZ - Zomato funding reaches US$225m

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Zomato funding reaches US$225m

Restaurant and discovery app Zomato has raised US$60 million in a new round of funding, the company announced.

The fresh round of funding is being led by Temasek, a Singapore investment firm, with participation from existing investor Vy Capital.

Zomato says it will use the investment to further grow its new business verticals.

Zomato’s funding is now up to US$225 million, from a close set of only four investors, Info Edge, Sequoia India, Vy Capital, and now Temasek, the company expplains.

Founded in 2008, Zomato is headquartered in India, and employs over 3000 people across 22 countries, including New Zealand. 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.

“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,” explains Deepinder Goyal, founder and CEO of Zomato.

“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,” he says.

Zomato has also announced the launch of its Whitelabel Platform, 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.

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