UrbanPiper, a restaurant management platform that processes 18% of all online food orders in India, has raised $24 million in a new financing round from a number of investors.
The Series B funding was led by existing investors. Pankaj Chaddah, a founder of Zomato, and Ankit Nagori of Curefoods are two of the angels who invested in the new round.
Most of the restaurants that sell online maintain businesses with multiple food delivery startups. The staff at those restaurants have to manage management apps from multiple firms and painstakingly track order flows and inventory on all services.
UrbanPiper has an app that syncs inventory and commerce flows with multiple services at once.
It's not feasible for food delivery firms to give restaurants the system, dashboard, detailed analysis on billing and invoicing. We are able to deliver. Saurabh Gupta, co-founder and chief executive of UrbanPiper, said in an interview that when we all come together, we can all do a better job.
They couldn't operate multiple dashboards because their volumes were too high.
He said that the startup has grown the number of restaurants it serves by 10 times.
He said that there are plenty of times when a restaurant owner wants to change their pricing, add different items, or run special campaigns.
He said that restaurants across the globe are facing similar challenges because of the proliferation of food delivery firms.
Shraeyansh Thakur, Principal at Sequoia India, said in a statement that the restaurant is evolving rapidly with changing consumer needs.
Due to disruptions caused by the Pandemic, merchants are now looking to adopt digital channels. UrbanPiper is at the forefront of this digital transformation and is positioned to build infrastructure connecting digital players to merchants. The UrbanPiper team is excited to deepen their partnership with Sequoia Capital India and welcome Zomato and Swiggy to the partnership.
The startup, which manages over 27,000 restaurant locations across eight countries, plans to deploy the fresh funds to launch in more regions across India, MENA and EU and aims to onboard over 200,000 restaurant locations in the next two years.
UrbanPiper is one of the key partners that enable us to engage with restaurants and scale faster through their point-of-sale solutions. The team has always found ways to bridge the gaps between restaurants and Swiggy. Sriharsha Majety, chief executive of Swiggy, said in a statement that they are excited about the market potential and look forward to scaling their partner network.
The investment in UrbanPiper was made by both Zomato and Swiggy. Last week, the company said it led a $180 million investment in Rapido. Zomato, which recently reached an agreement to acquire instant delivery firm Blinkit, has backed a number of other firms.
All Rights Reserved © 2024
