Deepinder Goyal’s new startup Temple raises $54 Mn at a $190 Mn valuation

Temple, a new startup founded by Deepinder Goyal, has raised $54 million in its first funding round through friends and family investors, according to a post shared by Goyal on X.

The round values Temple at a post-money valuation of approximately $190 million. Goyal said the investors participating in the round include founder friends and early backers of Zomato who expressed interest in backing the venture, regardless of whether it eventually goes public.

According to regulatory filing with MCA, the board at Temple has passed a resolution to approve the issuance of 234,799 TCCPS at an issue price of Rs 21,000 each to raise approximately Rs 493 crore.

The filing shows that Deepinder Goyal will lead the round with an investment of Rs 104.07 crore, followed by Steadview Capital at Rs 90.49 crore. Other major investors include Dharana Fund, Peak XV Partners, and Aaroh Fund, which will invest Rs 49.77 crore, Rs 54.30 crore, and Rs 18.10 crore, respectively.

Notably, more than 30 employees of Temple also participated in the funding round in their personal capital at the same valuation as external investors. The employee investments were made without any discount, Goyal said in the post.

Temple is a privately held startup launched by Goyal after Zomato’s listing. The company is currently operating in stealth mode. Goyal has previously indicated that Temple is a long-term venture and is separate from Zomato’s core food delivery and quick commerce businesses.

The development comes shortly after Deepinder Goyal stepped down as Group CEO of Zomato parent Eternal. Earlier this week, his other venture, LAT Aerospace, acquired Gurugram-based defence robotics startup Sharang Shakti for an undisclosed amount.

This is a developing story. Check back for more details.