Zomato launches platform to help restaurants raise funds

Online food delivery platform Zomato has announced the launch of Zomato Wings, a platform to connect investors with restaurants, to help them raise funds.

There are thousands of budding restaurants that may not have the expertise or focus to fundraise at the right time from the right investors. This is where Zomato wants to help, Zomato Founder and Chief Executive Officer Deepinder Goyal said in a blog.

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"We are excited to announce the launch of Zomato Wings, a platform to connect investors with restaurants. Just like ambitious restaurant entrepreneurs look for investors, investors also hunt for brands and teams that have the potential to become the next big chain," he added.

By curating a set of restaurants and cloud-kitchens that could become rocketships if fuelled with equity capital, Zomato hopes to build the go-to platform for venture capital firms, angel investors, family offices, etc. That are looking to make private investments in restaurants and cloud-kitchens, Goyal said.

"As we partner with more investors by connecting them with enterprising restaurants, more budding restaurants would use this platform for fundraising, and the platform's flywheel would create a win-win for restaurants and investors, and by extension, for Zomato'' he added.

Goyal however pointed out that Zomato's role would be limited to being a facilitator of fundraising for restaurants. It will help restaurants position their story and metrics in the right manner and connect them with the right investors, Goyal said. "We hope to give wings to at least 100 restaurant brands in the next three years join us in this exciting growth story!" he added.