UrbanPiper, a restaurant administration platform that processes 18% of all on-line meals orders in India, has raised $24 million in a brand new financing spherical from quite a few traders together with Swiggy and Zomato, the three corporations stated Monday.
The six-year-old startup’s Collection B funding was led by present traders Sequoia Capital India and Tiger World. Pankaj Chaddah, a founding father of Zomato, Ankit Nagori of Curefoods and Khadim Bhatti and Vara Kumar are amongst some angels who’ve additionally invested within the new spherical.
The overwhelming majority of eating places that promote on-line have a tendency to take care of companies with a number of meals supply startups. This sometimes implies that the employees at these eating places need to handle administration apps from a number of corporations and painstakingly monitor order flows and stock on all companies.
UrbanPiper operates a one-shop app that syncs stock and commerce flows with a number of companies without delay.
“For a lot of eating places, it’s not possible for meals supply corporations to supply them the system, dashboard, detailed evaluation on billing and invoicing. We’re in a position to ship on that. After we all come collectively, we will all in all probability do a greater job and transfer the trade ahead,” stated Saurabh Gupta, co-founder and chief government of UrbanPiper, instructed TechCrunch in an interview.
“These chains, their volumes have been too excessive and at that scale, they may not function a number of dashboards.”
The startup processes 14 million orders a month, up from 2 million it processed in 2019, when it raised a $7.5 million Collection A funding, he stated. “Now we have additionally grown the variety of eating places we serve by 10 instances,” he added.
“Loads of instances as a restaurant proprietor, you need to change your pricing, add totally different gadgets, run particular campaigns on new manufacturers in sure places, we provide all these flexibilities,” he stated.
UrbanPiper has additionally expanded to seven nations outdoors of India, together with some in MENA and EU areas. With the proliferation of meals supply corporations, eating places throughout the globe are dealing with related challenges, he stated.
“The restaurant ecosystem is evolving quickly with altering shopper wants,” stated Shraeyansh Thakur, Principal at Sequoia India, in an announcement.
“On account of pandemic-led disruptions, retailers now more and more need to undertake digital channels and improve their operations. UrbanPiper is on the forefront of this digital transformation and is strategically positioned to construct infrastructure connecting digital gamers to retailers within the F&B ecosystem. Sequoia Capital India is happy to deepen the partnership with the UrbanPiper staff as they construct additional on their mission to empower eating places globally, and welcome Zomato and Swiggy to this partnership.”
The startup, which manages over 27,000 restaurant places throughout eight nations, plans to deploy the contemporary funds to launch in additional areas throughout India, MENA and EU and goals to onboard over 200,000 restaurant places within the subsequent two years, it stated.
“UrbanPiper is one among our key companions enabling us to seamlessly have interaction with eating places and scale sooner by means of their point-of-sale options. Addressing particular wants, the staff has all the time discovered methods to bridge gaps by making a win-win for each eating places and Swiggy. We’re excited in regards to the market potential and stay up for scaling our associate community with their continued assist,” stated Sriharsha Majety, chief government of Swiggy, in an announcement.
The funding in UrbanPiper is the newest strategic backing from Swiggy and Zomato. Bengaluru-headquartered Swiggy final week stated it led a $180 million funding in bike and taxi aggregator Rapido. Zomato, which not too long ago reached an agreement to acquire instant delivery firm Blinkithas backed quite a few different corporations together with logistics startup Shiprocket, savings app Magicpin, and fitness startup Curefit.