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 a lot of buyers together with Swiggy and Zomato, the three companies mentioned Monday.
The six-year-old startup’s Collection B funding was led by current buyers 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 signifies that the workers at these eating places should handle administration apps from a number of companies and painstakingly monitor order flows and stock on all providers.
UrbanPiper operates a one-shop app that syncs stock and commerce flows with a number of providers without delay.
“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 most likely do a greater job and transfer the business ahead,” mentioned Saurabh Gupta, co-founder and chief government of UrbanPiper, advised 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’ve 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 completely 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 a press release.
“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 happy 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 international locations, 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 in all our key companions enabling us to seamlessly interact with eating places and scale quicker by means of 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 in regards to the market potential and sit up for scaling our companion community with their continued help,” mentioned 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 mentioned it led a $180 million funding in bike and taxi aggregator Rapido. Zomato, which lately reached an settlement to accumulate immediate supply agency Blinkit, has backed a lot of different companies together with logistics startup Shiprocket, financial savings app Magicpin, and health startup Curefit.