Zomato Receives $10M Additional Investment from Info Edge
Zomato, a New Delhi, India-based restaurant guide service, received an additional investment of INR 55 Crore (approximately $10m) from Info Edge (NSE: NAUKRI), which runs the recruitment site Naukri.com.
Prior to this round, Info Edge had invested INR 31 Crore in Zomato over three rounds and now has transitioned to a majority shareholding position.
Launched four years ago by Deepinder Goyal, CEO, Zomato operates a website and mobile app that provide information (menu, contact details, pictures, directions, ratings and reviews) for over 75,000 restaurants across 19 cities in India (13 cities), United Kingdom, UAE, Sri Lanka, and Qatar.
The company intends to use the capital for product development, scaling up sales team, and further international expansion in the next twelve months (firstly in Philippines and South Africa).
Zomato currently employs 200 people.