UrbanPiper, a one-stop restaurant management platform, today announced that it has raised US $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 reputed angel investors also participated in the funding round including Pankaj Chaddah (Shyft), Ankit Nagori (Curefoods), Saahil Goel and Vishesh Khurana (Shiprocket), Khadim Bhatti and Vara Kumar (Whatfix), among others.
“The restaurant industry is growing at an exponential rate, offering us a huge opportunity to create value and shape the next generation of restaurant businesses. With this investment, we will continue to widen UrbanPiper’s offerings to meet many more digital opportunities in the restaurant ecosystem, along with
bolstering our platform capabilities,” said Saurabh Gupta, CEO, UrbanPiper. “We are grateful to see both Swiggy and Zomato come together and participate in this round; a huge validation that what we are building is adding a lot of value to the food ecosystem.”
"UrbanPiper is one of our key partners enabling us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions. Addressing specific needs, the team has always found ways to bridge gaps by creating a win-win for both restaurants and Swiggy. We are excited about the market potential and look forward to scaling our partner network with their continued support,” said Sriharsha Majety, CEO, Swiggy.
“The restaurant ecosystem is evolving rapidly with changing consumer needs. Due to pandemic-led disruptions, merchants now increasingly want to adopt digital channels and upgrade their operations. UrbanPiper is at the forefront of this digital transformation and is strategically positioned to build infrastructure connecting digital players to merchants in the F&B ecosystem. 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.” Shraeyansh Thakur, Principal, Sequoia India.