Zomato Raises $60 Million From Temasek and Vy Capital

Zomato Raises $60 Million From Temasek and Vy Capital

Restaurant search and discovery app Zomato announced Monday that it has raised $60 million (roughly Rs. 401 crores) in a fresh round of funding that is being led by Singapore investment company, Temasek, with participation from existing investor Vy Capital.

Zomato's total funding comes to $225 million (roughly Rs. 1,477 crores) with its latest round, and it comes from only four investors - Info Edge, Sequoia India, Vy Capital, and now Temasek. The firm had last raised $50 million (roughly Rs. 334 crores) in April this year.

The firm itself had recently made strategic investments in hyperlocal delivery players Pickingo and Grab, adding last-mile delivery capabilties for restaurants.

Earlier on Monday, Zomato also launched its Whitelabel Platform for restaurants to run their business on the Internet.

"Over the next few months, we'll be launching our table reservations service Zomato Book, our point-of-sale system Zomato Base, and rolling out our Whitelabel platform across geographies." Umesh Hora, CFO, Zomato wrote on the company blog.

Deepinder Goyal, Founder and CEO of Zomato, said that the firm was well capitalised for at least two years, and that the investment round will be used on new businesses online ordering, table reservations, point of sales, as well as its newly launched Whitelabel platform. "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 said.

Founded in 2008, Zomato employs over 3,000 people across 22 countries, and claims to have 1.4 million restaurants listed on its platform, with over 90 million monthly visitors on its web and mobile platforms.

According to startup data tracker Tracxn, the top five funded startups in India are Flipkart, which has received $3.2 billion (roughly Rs. 21,388 crores) in funding, followed by Snapdeal at $1.54 billion (roughly Rs. 10,294 crores), Ola at $676 million (roughly Rs. 4,519 crores), Paytm at $585 million (roughly Rs. 3,910 crores), and Quikr at $350 million (roughly Rs. 2339 crores).

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