Zomato Raises $60M Funding From Vy Capital & Info Edge. Valued at $660M
The big ticket funding in Indian tech startups just keep on rolling – Zomato, a popular online restaurant search and discovery service today announced that it has closed a fresh round of funding of USD 60 million at a post-money valuation of USD 660 million!
This round of funding is being led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital as well.
With this round of funding, Zomato has now raked in total funding of over USD 113 million over multiple rounds. Before this round, Zomato had raised $53 million from Info Edge (India) Limited and Sequoia Capital.
The funds raised in the latest round will be used to accelerate Zomato’s global expansion and new product development.
Zomato has been growing aggressively in organic as well as in-organic way. They have acquired 4 companies recently that include MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.
Zomato has been expanding internationally over last two years and now this online and mobile restaurant search and discovery service has information for over 300,000 restaurants across 18 countries. Zomato claims to get over 30 million visits across its web and mobile platforms every month.
As is the case with most, Zomato’s growth in recent times has primarily come through their mobile app. More than half of Zomato’s traffic is seen on its mobile apps, which clearly indicates that local search is moving to mobile very fast.
Zomato was founded by Deepinder Goyal and Pankaj Chaddah in 2008 and has a presence in over 100 cities in India, UK, Canada, Lebanon, UAE, Turkey, New Zealand, Poland, the Czech Republic, Slovakia, South Africa, the Philippines, Portugal, Brazil, Chile, Indonesia, Sri Lanka, and Qatar.
Deepinder Goyal, Founder and CEO of Zomato, said, “Zomato is well on its way to becoming the world’s local expert in dining out. In the past year, we have added eight countries and millions of new users to our foodie truck.. From just restaurant discovery and menus, Zomato has now become a vast global community driven by social interactions. This is an exciting point in our journey, as we accelerate our way across the globe, and build a product that will continue to redefine the way people dine.”
Zomato is surely stellar online startup success story to come out of India!