IIT Delhi grads’ Zomato crosses into the 1000-crore Club
Zomato, an online food and restaurant listing platform started in 2008 by IIT Delhi graduates has raised Rs. 227.6 crore, making it one of the largest single round of funding in this sector. Since its inception by Deepinder Goyal, 30 and Pankaj Chaddah, 27, the company has obtained about $53 million through such investments, and has spread its presence to 11 countries.
The site is widely regarded as amongst the first Indian internet-based consumer portals to acquire a significant presence in international markets.
This current round is all about furthering that footprint. “It’s a very people intensive business. We intend to use the capital for expansion and hiring of people in about 22 overseas markets such as Brazil,Turkey, Indonesia and parts of Europe.” says Deepinder Goyal, CEO and co-founder.