Online restaurant guide Zomato has raised $60 million (over Rs 365 crore) from Vy Capital and existing investors Info Edge (India) Ltd and Sequoia Capital to fund 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,” Zomato said. Also Read - Zomato IPO share allotment status: How to check IPO allotment status online
This takes Zomato’s total funding to over $113 million, after having earlier raised $53 million from Info Edge (India) Ltd and Sequoia Capital over multiple rounds, it added. Also Read - Internet down: Zomato, Paytm, Disney+ Hotstar, Amazon, Myntra, many other global services suffered massive outage
Commenting on the development, Zomato Founder and CEO Deepinder Goyal said, “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.” Also Read - Zomato IPO: How to invest via bank, Zerodha, and Paytm Money
In the past year, the company has added eight countries and millions of new users to its foodie truck, he added.
“Zomato is one of the first Internet companies out of India with a consumer product that is scaling on a global basis….We look forward to being long-term partners of the company as it establishes itself among the global Internet leaders,” Vy Capital Founding Partner Alexander Tamas said.
Over the next year, the company plans to expand to 14 more countries across Europe, Southeast Asia, Australia, and the Americas, Zomato said. Zomato provides detailed information, menus and photos for over 300,000 restaurants across 18 countries. It is present in over 100 cities across India, UK, Canada, Lebanon, UAE, Turkey, New Zealand, Poland, Czech Republic, Slovakia, South Africa, the Philippines, Portugal, Brazil, Chile, Indonesia, Sri Lanka and Qatar.