Zomato raises $60 million from Temasek and Vy Capital; to use investment to expand business

Online restaurant guide and food ordering firm Zomato has raised $60 million (over Rs 400 crore) in a fresh round of funding led by Singapore investment company Temasek along with participation from existing investor Vy Capital.

The company will use the investment to expand new business verticals, Zomato said in a statement.

Zomato Founder and CEO Deepinder Goyal 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, he added.

This takes Zomato's total funding to $225 million from four investors - Info Edge, Sequoia India, Vy Capital and now Temasek.

"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," Goyal said.

Founded in 2008, Zomato employs over 3000 people across 22 countries. Available on web and mobile, it provides restaurant information such as menus, contact details, pictures and user reviews for 1.4 million restaurants.