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Zomato raises $60M from Temasek & Vy Capital

zomato (1)

Update: According to this BSE filing (pdf), Info Edge’s stake in Zomato after this round of funding is down to 47% as the organization did not participate in this round.

Zomato has raised $60 million in a round of funding from Temasek and existing investor Vy Capital. The platform will use the funds to invest in its new businesses such as online ordering, table reservations, point of sales, and the whitelabel platform.

Overall, Zomato has raised over $225 million across multiple rounds until now. It had earlier raised $50 million from InfoEdge and other investors in April this year, of which InfoEdge invested an amount Rs 1.55 billion (~$24.8 million), while the rest was invested by undisclosed investors. Other investments in the platform include a  $60 million round co-led by Vy Capital and existing investor Info Edge in November last year, $37 million from Info Edge and Sequoia Capital in November 2013, Rs 55 crore from Info Edge in Feb 2013, Rs 12.86 crore from Info Edge in September 2012, Rs 13.5 crore from Info Edge in September 2011 and Rs 4.7 crore in 2010.

Interestingly, the company went on an acquisition spree after raising funds the last few times, and has only recently let up after reaching most major markets across the world. Some of its acquisitions include

– Turkey’s restaurant search service Mekanist for an undisclosed amount in an all-cash deal in January.

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– The same month, it acquired UrbanSpoon for $52 million to enter Australia & United States markets as well as strengthen its operations in existing markets like UK, Canada, New Zealand, and Ireland

– Italian restaurant discovery service Cibando in December last year.

– Polish restaurant search service Gastronauci in September.

– Czech Republic’s restaurant guide Lunchtime.cz and Slovakia’s restaurant guide Obedovat.sk for a combined amount of $3.25 million in August.

– New Zealand-based restaurant search service MenuMania in July.

Zomato claims to currently offer restaurant information from over a million restaurants across 500 cities in 22 countries.

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Whitelabel platform:

Earlier today, Zomato started offering a whitelabel platform to help restaurants create their own mobile apps. As of now, Zomato claims that the platform can create ‘market-ready’ iOS and Android apps in less than 3 weeks. The pricing for this service is based on a subscription model instead of having to pay upfront fees.

Paytm integration:

Last week, Zomato integrated Paytm as a payment gateway on its Zomato Order platform. Zomato said then that food ordering was a prime use case for Paytm wallet users and a move towards doing cashless transactions in India.

PayPal partnership for online payments:

In July, Zomato introduced online payments through debit cards, credit cards and net banking for ordering food in select restaurants in India, in a partnership with PayPal. Users could either scan their card details or enter them manually. The company also introduced Zomato Credits where users could get referral points and refunds, with a possibility of adding promo codes.

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Launch of Zomato Order app:

The Gurgaon-headquartered company had launched a separate app for ordering food called Zomato Order in May, after starting food delivery service in Delhi NCR in April. The company said that launching a separate app for food ordering allowed them to build lightweight apps and focus on specific problems faced by users. Also, the flagship Zomato app and Zomato Order were connected. So if users decided a restaurant to order from on the Zomato app, they’d be redirected to that restaurant’s page on the Zomato Order app.

Zomato Cashless to come to India:

Zomato’s Pay with Cashless system was launched in Dubai in April this year, and was expected to be launched in India too. This online payment product allowed a user to open a tab by visiting the Cashless integrated restaurant’s page on the Zomato app and tapping on “Pay with Zomato Cashless”.

Also read: “We may go below 50% stake in Zomato’s next round of funding”: Info Edge’s Bikhchandani

 

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