Zeta, a Bengaluru-based startup offering meal and other group benefits to corporate employees, has received funding worth $60 million from French employee benefits organisation, Sodexo.
Bhavin Turakhia, a serial entrepreneur, launched Zeta after selling Media.net, where he was a partner, to a Chinese business group, in a $900 million deal.
Turakhia, along with co-founder of Zeta, Ramki Gadipatti have already invested $40 million in the Company since it was conceived in 2015.
They will now use the funds received to explore opportunities in Latin America, Europe, the US and the UK. Their aim is to reach at least five to 10 countries within a year or so.
Sodexo has been collaborating with Zeta for over two years now and the partnership has managed to woo a significant portion of the workforce of India Inc. In fact, about two million employees from across 14000 organisations in the country a are using Zeta. Over 20 lakh employees transact on its platform on a daily basis.
The Company will be recruiting senior managers for its different markets in the next one year and will also expand its engineering team.
The Sodexo-Zeta collaboration has resulted in the digitisation of the meal vouchers offered into an application. From simple meal vouchers, the partnership now offers travel, transit, subscriptions, and many more employee benefits.
In January 2018, Zeta had bought a minority stake in PeopleStrong HR Services. It has also made an investment of up to 10 crore in HR solultions company, ZingHR.