Restaurant search and food ordering company Zomato has raised a fresh round of funding to the tune of USD 60 million led by Singapore investment company Temasek Holdings with participation from Vy Capital.
The funds raised will be used for investing in Zomato’s new businesses, such as online ordering, table reservations, cashless payments, point-of-sale, and the newly launched Whitelabel platform, the company said in its blogpost.
“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,” the company said.
Zomato had launched its online ordering services in the UAE, and will soon be rolling it out to Australia and South Africa. Over the next few months, it will be launching table reservations service Zomato Book, point-of-sale system Zomato Base, and will be rolling out Whitelabel platform across geographies.
Founded in 2008, Zomato has now raised a total of USD225 million from four venture capital funds — Info Edge, Sequoia India, Vy Capital, and Temasek. Before this latest investment round, Info-Edge, which also owns Naukri.com and real estate search portal 99acres.com, were the majority stakeholders with 50% in the company.
The company has recently acquired minority stake in two hyperlocal delivery startups i.e. Gurgaon-based Pickingo and Mumbai-based Grab to strengthen its food ordering and delivery business.
Zomato launches Whitelabel for restaurants
In addition to this, the company has yesterday launched Whitelabel Platform — a suite of technologies to help restaurants run their business online with customised native mobile apps. The company says the Whitelabel app is a plug-and-play platform which quickly lets restaurants have a “digital identity”. The app available on subscription model will offer push-notifications, real-time information and menu management for restaurants. The product will be available to restaurants in all 22 countries where Zomato has its presence.
Recently, Zomato has launched newest product offering in the UAE, to help make night out decisions a lot easier for the customers and their – Zomato Gold
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