Zomato raises $60 mn from Temasek, Vy Capital

By: GizBot Bureau

Restaurant search and discovery application Zomato on Monday said 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.

Zomato raises $60 mn from Temasek, Vy Capital

Zomato will use the investment to further grow its new business verticals, the company said in a statement here. This takes Zomato's total funding to $225 million from a close set of only four investors - Info Edge, Sequoia India, Vy Capital, and Temasek.

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"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," said Zomato founder and CEO Deepinder Goyal.

"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 added.

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Earlier on Monday, Zomato 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.

Source IANS

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