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Info Edge shares rise as Zomato raises over Rs 400 crore fund

Info Edge, along with its wholly-owned subsidiary holds 47 per cent stake in Zomato, an online restaurant guide and food ordering firm.

BT Online   New Delhi     Last Updated: September 8, 2015  | 16:09 IST
Info Edge shares rise as Zomato raises Rs 400 cr fund
Photo: Reuters

Info Edge (India) shares rose 4.09 per cent after the company said that Zomato has raised $60 million (over Rs 400 crore) in a fresh round of funding led by Singapore investment company Temasek along with participation from existing investor Vy Capital.

Info Edge, along with its wholly-owned subsidiary holds 47 per cent stake in Zomato, an online restaurant guide and food ordering firm.

Info Edge shares closed 4.09 per cent up at Rs 761 apiece on Tuesday.    

Zomato said that it will use the investment to expand new business verticals. Zomato Founder and CEO Deepinder Goyal said, "We will use this round to make investments in our new businesses such as online ordering, table reservations, point of sales, and our newly launched Whitelabel platform."

"With this round, and with some of our markets turning profitable recently, Zomato is well capitalised for at least two years," he added. This takes Zomato's total funding to $225 million from four investors - Info Edge, Sequoia India, Vy Capital and now Temasek.

Founded in 2008, Zomato employs over 3000 people across 22 countries. Available on web and mobile, it provides restaurant information such as menus, contact details, pictures and user reviews for 1.4 million restaurants.

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