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2014-11-19

Zomato raises $60 million from Vy Capital, existing investors

This round of funding is being led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital

Gurgaon-based popular restaurant search and discovery service Zomato today announced that it has received $60 million in fresh round of funding at a post-money valuation of $ ~660 million. These funds will be used to accelerate Zomato's global expansion and new product development.

This round of funding is being led jointly by Info Edge (India) Limited and Vy Capital, with participation from Sequoia Capital. This takes Zomato’s total funding to over $113 million. Zomato has earlier raised $53 million from Info Edge (India) Limited and Sequoia Capital over multiple rounds of funding.

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. 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.

Deepinder Goyal, founder and CEO, Zomato, said, “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.”

Sanjeev Bikhchandani, founder, Info Edge, said, “Our first investment in Zomato was made almost 4 years ago, and the team has shown phenomenal progress since then to build the Zomato that we know and use. The company is growing very fast, and we are proud to back them up to further grow the business – both inside and outside of India.”
Alexander Tamas, founding partner, Vy Capital, said, “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. We look forward to being long-term partners of the company as it establishes itself among the global Internet leaders.”

Alexander Tamas, Founding Partner of Vy Capital, said, “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. We look forward to being long-term partners of the company as it establishes itself among the global Internet leaders.”

 

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