According to a post Deepinder Goyal made on X, Temple, a new firm he established, has acquired $54 million in its first investment round from friends and family investors.

Key Highlights

• Deepinder Goyal’s new startup Temple raises $54 million, achieving a strong $190 million valuation milestone.
• The funding signals strong investor confidence in Temple’s innovative business model and long-term growth potential.

Temple's post-money valuation in this round is roughly $190 million. According to Goyal, the investors taking part in the round include friends of Zomato's founders and early supporters who have indicated a desire to support the company whether or not it goes public.

The Temple board has approved the issuing of 234,799 TCCPS at an issue price of Rs 21,000 each in order to collect about Rs 493 crore, according to a regulatory filing with MCA. According to the filing, Steadview Capital will invest Rs 90.49 crore, while Deepinder Goyal will head the round with an investment of Rs 104.07 crore. Dharana Fund, Peak XV Partners, and Aaroh Fund are additional significant investors with planned investments of Rs 49.77 crore, Rs 54.30 crore, and Rs 18.10 crore, respectively.

Interestingly, over thirty Temple employees contributed their own funds to the investment round at the same valuation as outside investors. Goyal stated in the article that there was no reduction applied to the employee investments.

Goyal founded Temple, a privately held firm, following Zomato's listing. At the moment, the business is functioning in stealth mode. Goyal has previously stated that Temple is a long-term endeavor that is distinct from Zomato's primary rapid commerce and meal delivery businesses.

This development follows Deepinder Goyal's resignation as Group CEO of Eternal, the parent company of Zomato. Sharang Shakti, a defence robotics startup based in Gurugram, was purchased by his other business, LAT Aerospace, earlier this week for an unknown sum.