Indian restaurant management platform UrbanPiper has raised $24m in a Series B funding round led by existing corporate investors Sequoia Capital India and Tiger Global, as well as new investors including platforms online food ordering and delivery service Swiggy and Zomato.
Founded in 2016 by Saurabh Gupta and Manav Gupta, UrbanPiper claims to process 18% of all online food orders in India.
UrbanPiper uses a one-stop application and is said to have been designed to sync inventory and commerce feeds across multiple services.
Currently, the company is said to have reached a processing capacity of 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, presenting us with a huge opportunity to create value and shape the next generation of catering companies.
“We are grateful to see Swiggy and Zomato come together and participate in this round; huge validation that what we build adds a lot of value to the food ecosystem.
The company plans to use this capital to further enhance its offerings as well as to enhance its platform capabilities and seize new digital opportunities in the restaurant segment.
Swiggy CEO Sriharsha Majety said, “UrbanPiper is one of our key partners that allows us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions.
“In responding to specific needs, the team has always found ways to fill the gaps creating a win-win solution for restaurants and Swiggy. We are excited about the market potential and look forward to growing our network of partners with their continued support.”