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VCs commit $60m to India restaurant listings site Zomato

  • Andrew Woodman
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Zomato, a restaurant search service based in India, has raised a Series E round of funding worth $60 million from Vy Capital and existing backers Info Edge and Sequoia Capital.

The investment, which is said to value Zomato at $660 million, is the first in India for Vy Capital. The US-based group is regular backer of internet start-ups.

Set up in 2008, New Delhi-headquartered Zomato is an online and mobile-based service that offers information such as menus, directions, contact details, pictures, and user reviews for over 300,000 restaurants. The service claims to have a presence in over 100 cities and across 19 countries including India, Sri Lanka, the UK, the Czech Republic, Poland, the United Arab Emirates, Qatar, South Africa and New Zealand.

Zomato - which currently has 30 million users across its web and mobile platforms - makes its money through advertising. The company is also developing a "Zomato for Business" app that helps restaurants engage with customers.

This latest round brings the start-up's total funding to over $113 million. The new capital is being used to support organic and inorganic growth. Zomato's recent acquisitions include the Czech Republic's Lunchtime.cz, Slovakia's Obedovat.sk, Poland's Gastronauci, and New Zealand's MenuMania.

 

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