Restaurant management platform UrbanPiper on Monday announced it has raised $24 million led by existing investors Sequoia Capital India and Tiger Global. The new financing round also saw the participation from new investors Swiggy and Zomato. Pankaj Chaddah (of Shyft), Ankit Nagori (of Curefoods), Saahil Goel and Vishesh Khurana (of Shiprocket), Khadim Bhatti and Vara Kumar (of Whatfix) also invested in the funding round.
The platform aims to use the funds to scale its product and engineering teams and looks to expand to more than 200,000 restaurant locations globally in the next two years.
“With this investment, we will continue to widen UrbanPipera’s offerings to meet many more digital opportunities in the restaurant ecosystem, along with bolstering our platform capabilities,” news agency quoted company CEO Saurabh Gupta as saying.
The platform currently processes over 18 per cent of all online food orders placed each month in India, and has achieved 10 times growth over the past two years, the company said in a statement.The restaurant management platform is live in more than 27,000 restaurant locations across eight countries.
“UrbanPiper is one of our key partners enabling us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions,” said Sriharsha Majety, CEO, Swiggy.
“Sequoia Capital India is excited to deepen the partnership with the UrbanPiper team as they build further on their mission to empower restaurants globally, and welcome Zomato and Swiggy to this partnership,” added Shraeyansh Thakur, Principal, Sequoia India.