India based, restaurant listing site Zomato, has recently raised USD 37 Mn, taking the total investment till date to USD 53.5 Mn. The investment round was led by Sequoia Capital, with participation from Info Edge (India) Limited. The funding will be utilized in its further expansion across Europe, South-East, Asia, Australia and the America.
Speaking on the occasion, Deepinder Goyal, Founder and CEO of Zomato said, “We believe that we can disrupt restaurant search with our rich content-driven model. This financing will help us develop a product that will change the way people look for restaurant recommendations around them”.
Also, the company in its global market acquisition spree, has launched its websites in Jakarta (in Indonesian), Istanbul (in Turkish), and Sao Paolo (in Portuguese) which previously supported only english language. Also, it has expanded its operations to Durban (South Africa), and in the Scottish cities of Glasgow and Edinburgh.
According to Albinder Dhindsa, head of international operations, Zomato, the biggest challenge of launching in new languages was that they had to set up from scratch. “The language issues mean we need local teams everywhere,” he added. Previously, the Indian team had been able to lead expansions into other nations like the UK and Australia.
In Jakarta, the website has around 12,300 restaurants listed and 11,900 menus being uploaded.
Recently, Zomato had expanded its operations in 5 new international locations including South Africa (Cape Town), United Kingdom (Manchester, Birmingham), and New Zealand (Auckland, Wellington).
The company had previously stated its plans to expand its operations in Australia, Turkey and Indonesia, continental Europe, the Middle East, South America and South-East Asia in this calendar year.
Info Edge Ltd., which owns 57.9% stake in Zomato, has previously invested USD 16.5 Mn in four rounds of funding.
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