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 companies mentioned Monday.
The six-year-old startup’s Collection 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 keep up companies with a number of meals supply startups. This usually implies that the employees at these eating places must handle administration apps from a number of companies and painstakingly observe order flows and stock on all companies.
UrbanPiper operates a one-shop app that syncs stock and commerce flows with a number of companies directly.
“For a lot of eating places, it’s not possible for meals supply companies to supply them the system, dashboard, detailed evaluation on billing and invoicing. We’re capable of ship on that. Once we all come collectively, we are able to all in all probability do a greater job and transfer the trade ahead,” mentioned Saurabh Gupta, co-founder and chief government of UrbanPiper, informed TechCrunch in an interview.
“These chains, their volumes had 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 mentioned. “We have now 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 totally different objects, run particular campaigns on new manufacturers in sure areas, we provide all these flexibilities,” he mentioned.
UrbanPiper has additionally expanded to seven nations exterior of India, together with some in MENA and EU areas. With the proliferation of meals supply companies, eating places throughout the globe are dealing with comparable challenges, he mentioned.
“The restaurant ecosystem is evolving quickly with altering client wants,” mentioned Shraeyansh Thakur, Principal at Sequoia India, in an announcement.
“As a consequence 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 mentioned.
“UrbanPiper is one among our key companions enabling us to seamlessly interact with eating places and scale quicker by way of their point-of-sale options. Addressing particular wants, the workforce has at all times 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 accomplice community with their continued help,” mentioned Sriharsha Majety, chief government of Swiggy, in an announcement.
The funding in UrbanPiper is the most recent strategic backing from Swiggy and Zomato. Bengaluru-headquartered Swiggy final week mentioned it led a $180 million funding in bike and taxi aggregator Rapido. Zomato, which just lately reached an settlement to accumulate on the spot supply agency Blinkit, has backed numerous different companies together with logistics startup Shiprocket, financial savings app Magicpin, and health startup Curefit.
