Previously, Zomato and Swiggy had investment talks with several startups, including mobility company Rapido, but never ended up backing a company together. Swiggy recently led a $180 million round from Rapido, which also had talks with Zomato.
A large number of angel investors also participated in the funding round, including – Zomato and Shyft co-founder Pankaj Chaddah; Ankit Nagori, founder of Curefoods; Shiprocket founders Saahil Goel and Vishesh Khurana, among others.
The company plans to use the funds raised to scale its product and engineering teams, build platform capabilities, and expand its offerings to enable more restaurant services.
Founded in 2015 by Saurabh Gupta, Anirban Majumdar and Manav Gupta, UrbanPiper provides business-to-business (B2B) software to help restaurants manage their entire operations and offer a suite of digital offerings to manage business workflows.
“With this investment, we will continue to expand UrbanPiper’s offerings to address many more digital opportunities in the restaurant ecosystem, while building our platform’s capabilities,” said Gupta, CEO of UrbanPiper. .
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UrbanPiper has several well-known restaurant chains such as McDonald’s, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods, etc. among its user base. The company currently claims to process more than 18% of all online food orders placed monthly in India.
The new restaurant management platform is already available in more than 27,000 restaurants in eight countries, including India and the Middle East. It currently processes 14 million orders per month.
Now, UrbanPiper plans to launch in more regions in India, the Middle East and North Africa (MENA), and Europe with the goal of onboarding 200,000 restaurants to the platform over the next two years.
“UrbanPiper is one of our key partners, allowing us to seamlessly engage with restaurants and scale faster with their point-of-sale solutions. Responding to specific needs, the team has always found ways to fill the gaps creating a win-win situation for restaurants and We are excited about the market potential and look forward to growing our network of partners with their continued support,” said Sriharsha Majety, CEO of Swiggy .
The company currently has over 150 employees in India and plans to increase its workforce in the country to 250 next year.