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Apr, 13 2015

Zomato raises Rs 155 crores from Info Edge India

Zomato has recently entered the US market by acquiring restaurant information and recommendation service provider Urbanspoon for an estimated $60 million in an all-cash deal.

Zomato, one of the largest restaurant guide has raised another round of Rs 155 crore funding from Internet firm Info Edge India.

Zomato will use the amount to further expand its business in different parts of the country and globally.

Upon completion of the allotment of shares, Info Edge's aggregate investment in Zomato will be about Rs 484 crores.

"Info Edge, along with its wholly-owned subsidiary will continue to hold, on a fully converted and diluted basis, 50.1 percent of Zomato," the release issued by Info Edge stated.

Zomato has recently entered the US market by acquiring restaurant information and recommendation service provider Urbanspoon for an estimated $60 million in an all-cash deal.

The company has been aggressively expanding its global presence through inorganic route and has opened several inorganic locations.

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