Zomato secures Rs 155 Cr in funding from InfoEdge

Zomato has raised Rs 155 Cr ($55M) in latest round of funding from InfoEdge. The latest funding has raised the valuation of the company to $660 Million.

“Info Edge (India), through its wholly owned subsidiary, has invested an amount of Rs. 1.55 billion (Rs 155 crore) in Zomato, being Info Edge’s proportionate share of Zomato’s recent fund raise of US$ 50 million. “Info Edge, along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1 per cent of Zomato,”

said Info Edge said in a statement.

Info Edge itself has invested over Rs 482 Cr in Zomato in previous rounds of funding, making majority shareholding its priority. Zomato has recently acquired restaurant information and recommendation service provider Urbanspoon for an estimated $60 million in an all-cash deal. The company had acquired Lunchtime and Obedovat in restaurant guides in August last year.The firm has been aggressively expanding its global presence.


Sneha Bokil: Sneha Bokil is a tech enthusiast and is currently using OnePlus 3T but she still treasures her Nokia N70 (M). You can follow her on Twitter @snehabokil and on Google+
Related Post