Zomato, the restaurant search and discovery app, announced today that it has raised USD 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 will use the investment to further grow its new business verticals. This takes their total funding to $ 225 million - it comes from a close set of only four investors - Info Edge, Sequoia India, Vy Capital, and now Temasek.
Just last week, Zomato made strategic investments in Gurgaon-based Pickingo, and Mumbai-based Grab, both hyper-local delivery players, to enable last-mile delivery for restaurants including dine-in-only restaurants that don't otherwise deliver.
Deepinder Goyal, Founder and CEO of Zomato, said, “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 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.”