Online restaurant and events guide Zomato has raised Rs 227.6 crore ($37 million) in its Series D investment from Sequoia Capital and existing investor Info Edge. Of this, Info Edge has invested Rs 57 crore while the remaining is from Sequoia Capital. The company plans to use the investment raised to expand to 22 countries across Europe, South-East Asia, Australia and the Americas over the next two years. Last week, Info Edge had mentioned this investment round in its earnings call and had indicated this will be a big investment. Info Edge Vice-Chairman Sanjeev Bikhchandani said that getting an new investor in depends “on the size of the raise, and the size of our balance sheet. If the raise is going to be large, we would like to get someone alongside us. We will be probably diluted from our stake, but this is still under negotiation, but we are likely to stay majority”. While Info Edge still owns a majority stake in Zomato following this investment, its stake has reduced to 50.1% from 57.9%, it had during the previous investment round. With this investment, Zomato has raised a total Rs 313.6 crore across five rounds, which includes Info Edge's investment of Rs 143 crore. Prior to this, Zomato had raised Rs 55 crore in Feb 2013, Rs 12.86 crore in September 2012, Rs 13.5 crore in September 2011 and Rs 4.7 crore in 2010. Expansion To 3 New Markets Coinciding with this investment, Zomato has expanded its operations to three new countries – Brazil (Sao Paulo), Turkey (Istanbul & Ankara) and Indonesia…
