Online restaurant listings platform Zomato Media Pvt. Ltd. is gearing up to serve a much bigger lunch to its customers in India and abroad, with the closing of its fifth round of funding.
The company has now raised $37 million (approximately Rs. 227 crore) from Sequoia Capital and existing investor Info Edge, which is the owner of online job portal Naukri.com, taking the total funding so far to $53.5 million.
Coinciding with this investment, Zomato has expanded its operations to three new countries – Brazil, Turkey and Indonesia.
The company mentioned that the site will also be available in the respective local languages - Portuguese, Turkish, and Bahasa Indonesia respectively. According to founder CEO Deepinder Goyal, the company plans to use the money for international expansion.
“This financing will help us develop a product that will change the way people look for restaurant recommendations . We are excited to partner with Sequoia Capital to help us succeed internationally, and we can look forward to seeing Zomato in many more countries,” said Mr. Goyal.
Info Edge still remains the majority shareholder, however, according to a notification the company filed on the BSE.
“Post this transaction, the shareholding of Info Edge in Zomato stands at 50.1% on a fully converted and diluted basis. Prior to this round, Info Edge owned a little less than 58 per cent of Zomato,” the company said.
