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 numerous traders together with Swiggy and Zomato, the three corporations stated Monday.
The six-year-old startup’s Sequence B funding was led by current traders Sequoia Capital India and Tiger International. 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 signifies that the employees at these eating places must 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 capable of ship on that. After we all come collectively, we will all in all probability do a greater job and transfer the business ahead,” stated Saurabh Gupta, co-founder and chief government of UrbanPiper, advised Avisionews in an interview.
“These chains, their volumes had been too excessive and at that scale, they might 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 Sequence A funding, he stated. “We’ve additionally grown the variety of eating places we serve by 10 occasions,” he added.
“Loads of occasions as a restaurant proprietor, you need to change your pricing, add completely different gadgets, run particular campaigns on new manufacturers in sure areas, we provide all these flexibilities,” he stated.
UrbanPiper has additionally expanded to seven nations exterior of India, together with some in MENA and EU areas. With the proliferation of meals supply corporations, eating places throughout the globe are going through related challenges, he stated.
“The restaurant ecosystem is evolving quickly with altering client wants,” stated Shraeyansh Thakur, Principal at Sequoia India, in a press release.
“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 worked up to deepen the partnership with the UrbanPiper workforce 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 areas throughout eight nations, plans to deploy the recent funds to launch in additional areas throughout India, MENA and EU and goals to onboard over 200,000 restaurant areas within the subsequent two years, it stated.
“UrbanPiper is one in every of our key companions enabling us to seamlessly have interaction with eating places and scale sooner by their point-of-sale options. Addressing particular wants, the workforce has all the time discovered methods to bridge gaps by making a win-win for each eating places and Swiggy. We’re excited concerning the market potential and look ahead to scaling our associate community with their continued help,” stated Sriharsha Majety, chief government of Swiggy, in a press release.
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 just lately reached an settlement to accumulate immediate supply agency Blinkit, has backed numerous different corporations together with logistics startup Shiprocket, financial savings app Magicpin, and health startup Curefit.
