Wednesday, August 17, 2022
Wednesday, August 17, 2022
Home Startups Zomato Raises $60 Million for Global Expansion

Zomato Raises $60 Million for Global Expansion

by Sam Wakoba
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logoRestaurant search and discovery service present in South Africa, India and in 16 other countries, Zomato has closed a fresh round of funding of $60 million led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital at a post-money valuation of USD ~660 million in a move to  accelerate its global expansion and new product development.

The latest round brings Zomato’s total funding to over USD 113 million. Zomato has earlier raised USD 53 million from Info Edge (India) Limited and Sequoia Capital over multiple rounds of funding.

According Deepinder Goyal, Founder and CEO of Zomato, “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 provides up-to-date detailed information, menus and photos for over 300,000 restaurants across the 18 countries it is present in. The company takes a content-focused approach to restaurant search, believing that menus, pictures and maps are as important as reviews when it comes to a customer deciding where to eat.

Users can access all this information for free on Zomato’s website or on Zomato’s beautifully designed mobile apps for iOS, Android, or Windows Phone. Zomato’s mobile focus is also accompanied by the recently launched Zomato for Business application – an app built exclusively to help restaurant owners engage and attract more customers to their business.

Founded in 2008 and headquartered in New Delhi, India, Zomato sees over 30 million visits across its web and mobile platforms every month. Zomato has acquired 4 companies in the recent past. These acquisitions include MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.

Mohit Bhatnagar, Managing Director, Sequoia Capital India Advisors, said, “Zomato is a global internet company that happens to be from India. It’s been fascinating to see how Deepinder has got founders from many countries to combine forces with Zomato by aligning their vision to a larger common goal. We are delighted that Deepinder once again chose to partner with Sequoia in this round of funding.”

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