Zomato Raises $2.3 Million from Info Edge; Plans to Expand Operations to Sharjah & Abu DhabiRaghu Mohan
Info Edge (India) Ltd, has committed to invest $2.3 Million in Zomato.com. This is the third round of investment in Zomato which comes about a year after raising the second round. In September 2011, Info Edge (India) Ltd, invested INR 13.5 Cr ($3 Million) in Zomato.com before which in August 2010, Zomato had raised the first round of INR 4.7 Cr ($1 Million).
Details of the previous investment can be found here
In a conversation with YourStory.in, Pankaj Chaddah, co-founder of Zomato shared details about the fund raise and plans for Zomato's future.
"With this fund, we aim to expand our operations to the middle east and south east Asia. Our initial focus is on Sharjah and Abu Dhabi. The middle east is showing great opportunities and internet penetration in the middle east is very good. We also have other parts of south Asia in our expansion plans," said Pankaj, regarding the use of this fund.
With respect to business expansion plans, Pankaj clarified "our main focus will be on restaurants, cafe's and nightlife. All our offerings are along these lines. Our recently launched events offering is also restaurant specific. We will definitely aim to expand operations in more cities within India itself, while expanding globally."
Zomato also aims to expand the size of their 100+ team. "We are aggressively recruiting and we are looking at having a 200 - 220 person workforce.
Stay tuned to YourStory.in for more exclusive news and updates from the startup world.