Zomato has raised $60m in a fresh round of funding led by Temasek Holdings. Temasek Holdings is an investment company owned by the Government of Singapore. Incorporated in 1974, Temasek owns and manages a net portfolio of S$266 billion, mainly in Singapore and Asia. Existing investor Vy Capital also participated in this round.
Zomato says it’ll use this fresh infusion of capital to make investments their new businesses around online ordering, table reservations, cashless payments, point-of-sale, and their newly launched Whitelabel platform.
In a press release, the company said that more of its markets had turned profitable. Till the recent past, the company had only been profitable in India and UAE. Zomato said the company was well capitalized for the next 2 year, which put it in a great position to extend their business verticals to more global markets
Over the next few months, Zomato plans to launch their table reservations service Zomato Book, their point-of-sale system Zomato Base, and roll out the Whitelabel platform across geographies.
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