Restaurant review app Zomato has raised a $60 million round, led by Singapore investment company Temasek, and will use some of those funds to introduce its new online ordering service to the UAE.
Zomato, which is headquartered in India but has built a major presence in the Gulf and Lebanon since 2013, has now raised a total of $225 million from investors including India’s Info Edge, Sequoia India and Vy Capital (which also participated in this round).
The company was valued at $1 billion in April, following another round of $50 million.
“With this round, and with some of our markets turning profitable recently, Zomato is well capitalized for at least two years. 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,” CEO and founder Deepinder Goyal said in a statement.
Zomato will use the funds to develop new businesses in online ordering, table reservations, point of sales, and the whitelabel platform – announced on Monday – which will licence the in-house technology to companies wanting to build their own apps and services on top.
Original article by Rachel Williamson
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