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.”
Rajat Sharma who was recently elected as President of the NBA talks about his plans for the industry body
The Country Sales Manager Media at Akamai says that technology seems to be taking over all possible spaces and people considering it in both positive and negative ways
The India Marketing Lead of Skyscanner believes that with the acquisition by Ctrip they have reached the market leader status
Our typical marketing budget is usually 10 per cent of the topline spend
The BBC carried out a survey along with Globescan to see how the world looks at the issue of ‘fake news’
The objective of content marketing is not just to encourage product purchase or generate ROI. The key to its success lies in building relationships based on trust, opines Dasgupta
The interesting animated rap music video encapsulates Droom’s ecosystem tools and their role in facilitating second-hand automobile transactions