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Zomato Has Just Added $50 Mn More To Its Funding Box

Zomato Has Just Added $50 Mn More To Its Funding Box

Gurgaon-based Zomato Media Pvt Ltd, which owns the restaurant and event-listing site, 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.

Related: “You Can’t Start A Zomato Today & Succeed”, Says Deepinder Goyal, In His AMA Thread On Reddit

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.

Also Checkout: Amazon India Tried Trolling Zomato, But Zomato’s Response Was Epic

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.

In past one year, Zomato had acquired 7 startups across globe including  Urbanspoon which was acquired for $52 Mn to enter the US and Australian markets, Turkey’s popular restaurant research service firm Mekanist,  Italy-based web and mobile restaurant search services startup Cibando Ltd; MenuMania in New Zealand; Lunchtime in the Czech Republic; Obedovat in Slovakia; and Gastronauci in Poland.

Launched back in 2008, Delhi-based Zomato was founded by IIT Delhi alumni and ex-Bain employees Deepinder Goyal and Pankaj Chaddah,the company claims to get around 35 Mn visits per month across its website and mobile app.

The food tech space has seen a lot of action in past few months, few of the recent developments in this space include foodPanda raising $110 Mn funding round and acquiring JustEat India operations & TastyKhana, Bangalore-based food ordering startup, Swiggy raising INR 12 Cr from Accel Partners and SAIF Partners; Pune-based tech focussed QSR chain Faaso’s, which raised $20 Mn from LightBox Ventures and Sequoia Capital, Yumist, FRSH and Holachef got funding of $1 Mn, about $250k – $200k and INR 2 Cr.  respectively,

Also Read: GSF Founder Rajesh Sawhney Enters The $300 Bn Food Industry With His Foodtech Startup InnerChef

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