India based, restaurant listing site Zomato, has raised USD 60 million in series E round led by Vy capital, Info Edge Limited and Sequoia Capital. The funding will be utilized to accelerate its global expansion as well as on new product development.
As per ET report, the latest round valued the New Delhi-based venture at USD 660 million and brings its total capital up to USD 113.8 million. Last year, it had received USD 37 million in series D round of funding.
The stake picked up the investors in the new round is still undisclosed. Prior to this round, Info Edge, which also runs Naukri.com, held a majority ownership in the company. Zomato claims to have 300 percent growth in revenue compared to last year.
The portal currently has listing over 290,700 restaurants across 15 countries. Zomato, which claims to see over 30 million visits across its web and mobile platforms every month, plans to expand to 14 more countries across Europe, South-East Asia, Australia, and the Americas.
Zomato was founded in 2008 by Deepinder Goyal and Pankaj Chaddah. The company is present in more than 100 cities across India, UK, Canada, Lebanon, UAE, Turkey, New Zealand, Poland and the Czech Republic, among others.
The firm has acquired 4 companies this year including MenuMania in New Zealand, Lunchtime in the Czech Republic, Obedovat in Slovakia, and Gastronauci in Poland.
Last year, Zomato had expanded its global presence in five new cities – Brasilia, Rio de Janeiro, Salvador, and Porto Alegre in Brazil; and Hamilton, in New Zealand.
Image Source: Business TodayCategory Business Investments