Zomato Raises $60 Million From Vy Capital, Info Edge & Sequoia!!
Restaurant search and discoveryZomatohas raised $60 million (Approx. Rs 371 crore) in a fresh round of funding, a transaction that values the New Delhi-based company at $660 million.“This round of funding is being led jointly by Info Edge (India) Ltd and Vy Capital, with participation from Sequoia Capital,” Zomato said. Zomato’s total funding extends to over $113 million. It had earlier raised $53 million from Info Edge (India) Ltd and Sequoia Capital over multiple rounds.
“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, Vy Capital.
The proceeds will be used by Zomato to accelerate its global expansion, as well as on new product development. “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, co-founder and chief executive of Zomato, in a press statement.
Zomato claims to have over 30 million visitors across its web and mobile platforms every month. The Gurgaon-based company, which has been rapidly expanding its international presence over the past two quarters, is now present in 16 countries and plans to expand to 14 more countries across Europe, South-East Asia, Australia, and the Americas. It recently acquired Gastronauci, Poland’s leading restaurant search service. It competes with NYSE-listed Yelp, which has a market capitalization of $4.21 billion.