Restaurant management platform UrbanPiper has raised $24 million in Series B funding led by existing investors Sequoia Capital India and Tiger Global, and new investors Swiggy and Zomato.
A slew of angel inventors including Pankaj Chaddah, Ankit Nagori, Saahil Goel, Vishesh Khurana, Khadim Bhatti and Vara Kumar also participated in the round.
In January, Zomato announced that it will invest $5 million in UrbanPiper as part of a larger round for a 19% stake. The company did not divulge further details of the transaction.
UrbanPiper will use funds to bolster the platform’s capabilities by scaling its product and engineering teams, said the company in a statement. The platform is currently live in more than 27,000 restaurant locations across eight countries and looks to expand to over 200,000 restaurant locations across India, MENA and EU regions.
Founded by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, UrbanPiper is building a full-stack restaurant management platform that helps restaurants operate and scale their businesses with minimal hassle. It helps restaurants to integrate and manage multiple delivery platforms in a single dashboard and provides an API to connect with existing POS.
UrbanPiper said that restaurants can integrate all these aggregators onto a single dashboard and connect it with their points of sale resulting in a 70% decrease in order failure. The company further claims to receive 14 million orders per month and processes over 18% of all online food orders placed each month in India and has achieved 10X growth over the past two years.