Zomato, online restaurant guide, valued at $660 million after infusion of funds.
In a new round of funding, Indian restaurant discovery service Zomato has raised $60 million from its three investors – Vy Capital, Info Edge and Sequoia Capital – bringing its valuation to $660 million. The company has so far raised $113 million, with $53 million raised earlier in multiple funding rounds by Info Edge and Sequoia.
Delhi-based Zomato was founded in 2008 by Deepinder Goyal and Pankaj Chaddah. The six-year-old company is currently present in 18 countries – in more than 100 cities across India, UK, Canada, Lebanon, UAE, Turkey, New Zealand, Poland, South Africa, Brazil, Sri Lanka, Qatar and the Czech Republic, among others. The web and mobile platform of the service reportedly get over 30 million visits on a monthly basis.
The company has plans to spread the online restaurant guide’s presence to 14 more countries across Europe, South-East Asia, Australia, and the Americas. It has also acquired four companies over the past few years, including, MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.
The proceeds will fund its global expansion and new product development. Info Edge, an Indian e-commerce and online classifieds company, has so far been the largest shareholder in Zomato. Vy Capital, a technology-focused venture capital firm, is a new entrant.
Photo Credits: scoop.co.nz
