Zomato Raises $37 Million
Zomato is a startup that has raised $37 million in a new round of funding from Sequoia Capital and existing investor Info Edge. The startup will be using their funding for future expansion. Zomato has raised a total of $53 million. Based in New Delhi, Zomato has a strong presence in India and the United Arab Emirates. The company launched in Brazil, Turkey, and Indonesia today. Zomato also rolled out their services in Glasgow, U.K. and Edinburgh, U.K. recently.
Zomato has over 160,000 restaurants across 35 cities and 11 countries in their network. They will be expanding to 22 more countries across Europe, Asia, Australia, and the Americas in the next two years.
“Zomato is the first Indian consumer internet company to build a significant international footprint,” stated Mohit Bhatnagar, managing director of Sequoia Capital India Advisors.
Zomato has reviews and ratings along with menus, pictures, and maps. Zomato updates the menus for all of their supported restaurants every 3 months.
Zomato’s revenues increased 500% year-over-year and over half their traffic is from mobile apps. Zomato receives over 15 million monthly visitors total. Zomato has an app for iOS, Android, and Windows.
[Source: VentureBeat]This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry