Deepinder Goyal, the creator of Zomato, a food delivery service in India, has successfully secured $54 million in initial funding for his latest venture, Temple, a wearable technology startup. The post-investment valuation of Temple stands at around $190 million.
Goyal announced through social media that the funding was raised through a “friends-and-family” campaign, with contributions primarily from fellow founders and early-stage investors within his network. Notably, over 30 Temple staff members also invested at the same valuation without any discounts.
Reports from Economic Times reveal that the investors in this round include Peak XV Partners, Steadview Capital, Dharana Capital, Info Edge Ventures, and more than 80 individual backers.
In February, Goyal transitioned from his position as CEO of Eternal, the parent company of Zomato and Blinkit, to the role of vice-chairman, as reported by ET. He expressed his intention to concentrate on ventures involving “higher-risk exploration and experimentation,” such as Temple.
Temple specializes in wearable technology, targeting elite performance and precise monitoring. Goyal, in a recent job posting on X, mentioned that their primary product is a performance-tracking wearable device designed for athletes. The company is actively seeking engineers skilled in hardware, embedded systems, sensor design, and advanced software development.