Live Post
Infosys MD & CEO Vishal Sikka resigns, Pravin Rao interim chief
Rescue Hyderabad minor from Omani sheikh: Maneka Gandhi to Sushma Swaraj
After SBI, now HDFC Bank and Yes Bank cut interest rate on savings
Election Commissioner speaks out: 'Winning at all cost, without ethics, is new normal in politics'
Karti Chidambaram says will appear before CBI on August 23, seeks protection
USS Fitzgerald captain during collision that killed 7 to lose command

Zomato raises Rs 390 cr from Temasek Holdings, Vy Capital

MUMBAI: Zomato Media, which runs popular restaurant search and review website, has raised Rs 390 crore ($60 million) in a fresh round of funding from private equity player Temasek Holdings Pte and existing investor Vy Capital.

Info Edge (India) Ltd, which is the largest stakeholder in the company, did not participate in the current round.

Info Edge informed that following the transaction, it will own 47 per cent stake in Zomato.

Zomato will use the fresh funding to expand into new business verticals.

With this latest round, Zomato has raised a total of $225 million from Info Edge, Sequoia India, Vy Capital and Temasek.

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. 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 added.

Founded in 2008, Zomato currently has 70,000 restaurants listed on its India platform, while overall it boasts 1.4 million listings across 22 countries with over 3,000 employees.