Zomato India Pvt Ltd has raised a fresh round of funding worth $50 million. The funding was led by previous investor Info Edge, who contributed half of the funding in a bid to maintain their majority shareholding of the company.
The new round of funding has raised the valuation of the company to $660 Million.
However, the amount of participation from other investors or their names have not been disclosed, neither have they commented on the news yet, as reported by VCCircle.
Info Edge itself has invested over $77.5 million in Zomato in previous rounds of funding, making majority shareholding its priority. Info Edge is known for its other online ventures such as Naukri.com, Jeevansathi.com and 99acres.com among others.
Zomato also began with an online food ordering service on its website last month to compete against FoodPanda which recently acquired JustEat’s India division as well as TastyKhana.