Zomato, an online restaurant discovery service has raised $60 million (Rs 371 crore), giving the company a post-money valuation of $660 million. This round of funding was jointly led by Vy Capital and Info Edge (India) Limited along with participation from Sequoia Capital.
The funds will be used for Zomato’s global expansion and new product development. Zomato plans to expand to 14 more countries across Europe, Southeast Asia, Australia, and the Americas.
Zomato, founded in 2008, is currently operational in 18 countries and claims to provide restaurant information for more than 3,00,000 restaurants. It has acquired 4 companies recently: MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.
“Zomato is one of the first Internet companies out of India with a consumer product that is scaling on a global basis and a team that is executing extremely well against the opportunity,” said Alexander Tamas, Founding Partner of Vy Capital, a firm head-quartered in Menlo Park, California.
“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,” said Deepinder Goyal, Founder and CEO of Zomato, as appeared in ET.
Info Edge (India) Limited was founded in 1995 by Sanjeev Bikhchandani. It owns popular Indian brands like Naukri.com, Shiksha.com, Jeevansathi.com, Naukrigulf.com and 99acres.com. It has stakes in many other internet businesses.