UrbanPiper Technology Pvt. Ltd, a software-as-a-service platform that enables online ordering for restaurants, said on Wednesday it has raised $7.5 million (Rs 68 crore) in its Series A round of funding led by Tiger Global Management and Sequoia Capital.
The company said in a statement it will use the funds to scale up its team, build its product suite and expand internationally.
UrbanPiper was founded in 2015 by Saurabh Gupta and Anirban Majumdar. It provides a dashboard to restaurants to help them automate their presence across different channels, thereby reducing manual intervention to update their catalogue across various online platforms and order cancellations.
The platform has been adopted by more than 150 restaurants and is live at over 7,500 restaurant locations in India and the Middle East. Its customers include Pizza Hut, McDonald’s, Café Coffee Day, OYO, Wow Momo, Eat.Fit, Haldirams, Paradise Biryani and Chai Point.
"We are on a mission to help restaurants manage and grow their business online with the least bit of hassle," said Gupta, who is also the company’s CEO. "We are ready to scale our offering to help millions of restaurant partners across the globe.”
In March last year, UrbanPiper had raised an undisclosed amount in a pre-Series A round of funding from Kumar Vembu, co-founder of enterprise tech firm Zoho Corp, and existing investor Axilor Ventures.
Tiger Global
The US-based investment firm, an early backer of online retailer Flipkart, has increased the pace of its investments in India ever since it ended a three-year hiatus towards the end of last year.
On Tuesday, Tiger Global and Sequoia Capital led a Series C investment round in mobile app analytics startup CleverTap.
Last month, it forayed into the Indian quick-service restaurant segment by leading a Series B funding round worth $23 million in Wow! Momo Foods.
In August, Tiger Global and private equity firm WestBridge Capital led a $42-million funding round in ed-tech startup Vedantu.
Also in August, it invested in financial technology startup Cred, artificial intelligence-based wealth management venture INDwealth and home services marketplace UrbanClap Technologies.
