Zomato gets $60-mn funding
New Delhi: Online restaurant guide Zomato has raised a fresh round of funding of $60 million at a post-money valuation of about $660 million ( Rs 3700 crore).
These funds will be used to accelerate the company's global expansion and new product development. This round of funding is being led jointly by Info Edge (India) Ltd and Vy Capital, with participation from Sequoia Capital. This takes Zomato's total funding to over $113 million.
Zomato had earlier raised $53 million from Info Edge (India) Ltd and Sequoia Capital over multiple rounds of funding.
Zomato provides up-to-date detailed information, menus and photos for over 3,00,000 restaurants across 18 countries it is present in.
Zomato has acquired four companies in the recent past. These include Lunchtime in the Czech Republic, MenuMania in New Zealand, Obedovat in Slovakia, and Gastronauci in Poland. Over the next year, it plans to expand to 14 more countries across Europe, Southeast Asia, Australia, and the Americas.