 "Zomato raises $60 mn from Temasek and Vy Capital")
In a fresh round of funding, restaurant search and discovery platform Zomato has raised $60 million from Singapore government-owned investment company Temasek, along with existing investor Vy Capital. The company said that it will use the investment to further grow its new business verticals.
Zomato has raised a total of $225 million in eight rounds of funding since its launch in 2008. It comes from a set of only four investors — Info Edge, Sequoia India, Vy Capital, and now Singapore-based Temasek. “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. With this round and with some of our markets turning profitable recently, Zomato is well capitalised for at least two year,” said Deepinder Goyal, founder and chief executive.
Zomato on Monday also launched Whitelabel Platform (zomato.com/whitelabel). The new platform offers a host of technologies for restaurants to run their business on the internet. Last week Zomato made strategic investments in Gurgaon-based Pickingo, and Mumbai-based Grab, both hyperlocal players, to enable last-mile delivery for restaurants including dine-in-only restaurants that don’t otherwise deliver.
Founded in 2008, Zomato is headquartered in India, and employs over 3000 people across 22 countries. Available on web and mobile, Zomato provides detailed restaurant information such as menus, contact details, pictures, geo-coded maps, and user reviews, for 1.4 million restaurants. Zomato sees over 90 million visits across its web and mobile platforms every month.
The platform launched for restaurants will enable them to launch custom-branded native mobile apps to help them connect with and engage with their customers