New venture Temple, founded by Deepinder Goyal, has raised $54 million in its maiden funding round at a post money valuation of approximately $190 million.
The round was backed primarily by friends, family, and long-term associates, including early backers of Zomato, according to a statement shared by Goyal on social platform X. He noted that several founder friends and early investors participated in the round with long-term conviction, irrespective of any future public listing plans.
Investment Structure and Key Backers
As per filings with the Ministry of Corporate Affairs (MCA), Temple’s board approved the issuance of 2,34,799 TCCPS at an issue price of ₹21,000 each, aggregating to approximately ₹493 crore (around $54 million).
Goyal is leading the round with an investment of ₹104.07 crore. Other major participants include:
- Steadview Capital – ₹90.49 crore
- Peak XV Partners – ₹54.30 crore
- Dharana Fund – ₹49.77 crore
- Aaroh Fund – ₹18.10 crore
More than 30 Temple employees also invested personal capital in the round at the same valuation as external investors, without any discount a move Goyal highlighted as a signal of internal confidence.
Stealth Mode and Strategic Positioning
Temple is currently operating in stealth mode. Goyal has previously clarified that the venture is independent of Zomato’s core food delivery and quick commerce operations and is intended as a long-term entrepreneurial project.
The fundraise comes shortly after Goyal stepped down as Group CEO of Eternal, and days after his aerospace venture LAT Aerospace acquired defence robotics firm Sharang Shakti.
While details about Temple’s business model remain undisclosed, the scale of early capital and the valuation underscore strong investor confidence in Goyal’s next chapter.
Follow Startupbydoc for daily startup insights, funding news, IPO analysis, and business breakdowns.