Zomato, today, has confirmed that it has raised $60 Mn in a new round of funding led by Temasek Holdings, and existing investors Vy Capital. The funds raised will be used for investing in Zomato’s new businesses, such as online ordering, table reservations, cashless payments, point-of-sale, and the newly launched Whitelabel platform, said company in a blogpost.
“More of our markets have turned profitable recently and we are well capitalised for the next two years, putting us in a great position to extend our business verticals to more global markets,” said the company.
Zomato had launched its online ordering services in the UAE, and will soon be rolling it out to Australia and South Africa. Over the next few months, it will be launching table reservations service Zomato Book, point-of-sale system Zomato Base, and will be rolling out Whitelabel platform across geographies.
Related Article: Zomato To Launch Food Solutions Marketplace For Restaurant Owners
The company has recently acquired minority stake in two hyperlocal delivery startups i.e. Gurgaon-based Pickingo and Mumbai-based Grab to strengthen its food ordering and delivery business.
Zomato had raised $60 Mn from Vy Capital, Info Edge and Sequoia Capital last year and about $50 Mn from Info Edge and few other investors in April this year. During the last fundraise, Zomato was said to be valued at over $1 Bn.
Welcome to Flash Feed, your essential source for breaking news and innovation from around the web – bite-sized and updated all day.