Restaurant search service Zomato has raised a fresh $60 million in funding in a round led by new entrant Temasek Holdings and existing investor Vy Capital.
Founded in 2008, Zomato offers an online and mobile search service for 30 million restaurant-seekers in 20 countries. It serves up in-depth information including menus, photos, and locations, with users able to submit reviews and ratings.
The India-based startup is branching out into other related offerings too, including online ordering, table reservations, and cashless payments. Today’s funding news coincides with the launch of its all-new white-label platform, which basically lets restaurants take their business online by helping them create customized mobile apps, outside the Zomato ecosystem.
“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,” explained Zomato’s chief financial officer Umesh Hora. “Just last week, we launched our online ordering services in the UAE, and will soon be rolling it out to Australia and South Africa. Over the next few months, we’ll be launching our table reservations service Zomato Book, our point-of-sale system Zomato Base, and rolling out our white-label platform across geographies.”
The company had raised just over $160 million in funding before today’s news, so this latest round takes it flying past the $220 million mark.