UrbanPiper, a restaurant management platform that processes 18 percent of all online food orders in India, has raised US $24 million in a new funding round led by Swiggy and Zomato, the three companies announced on April 18th 2022.
Sequoia Capital India and Tiger Global lead the Series B fundraising round for the six-year-old firm. Angel investors include Pankaj Chaddah, the founder of Zomato, Ankit Nagori of Curefoods, Khadim Bhatti, and Vara Kumar, among others.
What the founder has to say:
Saurabh Gupta, co-founder, and chief executive of UrbanPiper:
“For many restaurants, food delivery companies cannot provide them with a system, dashboard, or extensive billing and invoicing data. That is something we are capable of doing. We can all probably do a better job and take the industry ahead if we all work together. These chains’ volumes were too huge, and they couldn’t manage many dashboards at that size.”
According to him, the business currently processes 40 million orders each month, up from 2 million in 2019, when it secured its Series A funding. “We’ve also more than doubled the number of restaurants we serve,” he continued.
What the investors have to say:
Sriharsha Majety, chief executive of Swiggy:
“Through their point-of-sale systems, UrbanPiper is one of our important partners, allowing us to engage with eateries and scale faster effortlessly.” When it comes to specialized demands, the Swiggy team has always found a method to bridge the gap by establishing a win-win situation for both eateries and Swiggy. We’re pleased about the market potential, and with their ongoing backing, we’ll be able to expand our partner network.”
About UrbanPiper:
UrbanPiper is a one-stop shop that simultaneously synchronizes inventory and commerce flow across numerous services.
The vast majority of establishments that offer their products online run several food delivery services. This often implies that restaurant employees must manage numerous firms’ management systems and meticulously track order flows and inventory across all services.
UrbanPiper has expanded to seven countries outside of India, including some in the Middle East and Europe. The business, which currently operates over 27,000 restaurant locations in eight countries, expects to use the new capital to expand its operations in India, the Middle East, and Europe, with the goal of onboarding over 200,000 restaurant locations in the next two years.
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