India’s restaurant management platform UrbanPiper has raised $24m in Series B funding round led by the company’s existing investors Sequoia Capital India and Tiger Global, as well as new investors including online food ordering and delivery platforms Swiggy and Zomato.
Established in 2016, by Saurabh Gupta and Manav Gupta, UrbanPiper claims that it processes 18% of all online food orders in India.
UrbanPiper uses a one-shop application and is said to have been designed to synchronise the inventory and commerce flows across multiple services.
Currently, the company is claimed to have attained a capacity to process 14 million orders per month from two million orders.
UrbanPiper CEO Saurabh Gupta was quoted by Business Standard as saying: “The restaurant industry is growing at an exponential rate, offering us a huge opportunity to create value and shape the next generation of restaurant businesses.
“We are grateful to see both Swiggy and Zomato come together and participate in this round; a huge validation that what we are building is adding a lot of value to the food ecosystem.”
The company plans to use this capital to further enhance its offerings as well as strengthen its platform capabilities and meet new digital opportunities in the restaurant segment.
Swiggy CEO Sriharsha Majety said: “UrbanPiper is one of our key partners enabling us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions.
“Addressing specific needs, the team has always found ways to bridge gaps by creating a win-win for both restaurants and Swiggy. We are excited about the market potential and look forward to scaling our partner network with their continued support.”