Europe Expansion On The Menu For India’s Zomato
FinancialTimes: Indian online restaurant service Zomato is placing European expansion at the heart of plans to launch in 18 new countries by the end of 2016, fuelled by a new fundraising round that is poised to value the start-up at more than $1B.
Deepinder Goyal, CEO, told that Zomato also planned to invest $10M in a new push to provide “in-house tech” such as sales terminals and table booking software to tens of thousands of restaurants listed on its site, beginning in October.
The New Delhi-based group is among the most prominent of a new generation of start-ups from India’s buzzing ecommerce sector. It was valued at $660M last November following a $60M fundraising round, and is backed by Silicon Valley venture fund Sequoia Capital and listed Indian technology group Info Edge.