Boost to Zomato's business, raised $60 million from Singapore based Temasek, Vy Capital
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Restaurant search app "With this round, and with some of our markets turning profitable recently, Zomato is well capitalised for at least two years," Deepinder Goyal, Founder and CEO of Zomato, told ET.
Zomato will use the funds to make
"Zomato already has the added advantage in terms of app downloads and credible ratings. Soon they will integrate this with the ordering and if the experience is seamless, it will get them way ahead of competition in much lesser time. The challenge is to develop logistics and technology to serve the delivery platform," said an investor in the company.
Founded in 2008, Zomato has in total raised close to $225 million from Info Edge,
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Over the past year, Zomato acquired seven restaurant search players in New Zealand, Poland, Czech Republic, Slovakia, Turkey and Italy. UrbanSpoon deal gave Zomato entry into more developed market like Canada, Australia and USA which would pit it against large players like US-based Yelp Inc.
(Image credits: Indiatimes)
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