Gurgaon-based Zomato Media Pvt Ltd, which owns the restaurant and event-listing site Zomato.com, has raised about $50 Mn in a new round of funding. InfoEdge (India), which held 50.1% stake in the company, has brought in half of the total to retain its majority shareholding. The company has left the names of the other investors who participated in this round of funding undisclosed.
Zomato was looking to raise as much as $100 Mn more.
This round takes the total funds raised by Zomato till date to $163 Mn. For Zomato, this round comes just few months after it had raised $60 Mn from Info Edge (India) and Vy Capital, and Sequoia Capital. Prior, to that, Zomato had raised $53 Mn from Info Edge (India) and Sequoia Capital. InfoEdge has invested over INR 484 Cr. in Zomato to date.
The company had previously said that it will be investing $50 Mn for setting up food delivery business. To be noted, cab hailing app Ola too have started food delivery service just few days back.