UrbanPiper raises $24 Mn in Series B round via Sequoia Capital India, others; gets investment from Zomato and Swiggy

• ByStartupStory     |    April 18, 2022

UrbanPiper, restaurant management platform, raised about $24 million in Series B funding led by existing investors Sequoia Capital India and Tiger Global, and Swiggy and Zomato, new investors.

The round also saw participation from a slew of angel inventors including Pankaj Chaddah, Vishesh Khurana, Ankit Nagori, Saahil Goel, Khadim Bhatti and Vara Kumar.

In January, Zomato announced that as part of a larger round for a 19% stake, it will invest $5 million in UrbanPiper. Further details of the transaction has not been divulge by the company..

To bolster the platform’s capabilities by scaling its product and engineering teams, the funds will be used by UrbanPiper, said the company in a statement. Currently, the platform is live in over 27,000 restaurant locations across eight countries and looks forward to expand to over 200,000 restaurant locations across India, EU regions and MENA.

UrbanPiper founded by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, is building a full-stack restaurant management platform that helps restaurants operate and scale their businesses with minimal hassle. It helps restaurants in order to integrate and manage multiple delivery platforms in a single dashboard and provides an API so as to connect with existing POS.

UrbanPiper said that all these aggregators can be integrated by the restaurants onto a single dashboard and further connect it with their points of sale resulting in a 70% decrease in order failure. To receive 14 million orders per month and has achieved 10X growth over the past two years and processes over 18% of all online food orders placed each month in India has been further claimed by the company

UrbanPiper counts several marquee restaurant chains such as Subway, Cure Foods, McDonald’s, Pizza Hut, KFC, Taco Bell and Rebel Foods among its user base.

UrbanPiper for the fiscal year ending on March 31, 2021, saw its revenue from operations declining 10% from Rs 4.83 crore in FY20 to Rs 4.34 crore in FY21. According to the company’s regulatory filings, as a net loss in FY21 it recorded 15.82 crore which stood at Rs 6.22 crore in FY20.

In a funding round in any Indian startup, this is probably the first time when both Swiggy and Zomato came together and participated. Zomato has invested in over half a dozen companies including Shiprocket, Magicpin, Mukunda Foods, BlinkIt, Curefit, UrbanPiper and Adonmo, since its listing on stock exchanges in July last year. On the other side, Swiggy, had led a $180 million round in bike taxi platform Rapido. In any Indian startup, it was the largest round by Swiggy. Swiggy had previously backed ready-to-cook food brand Fingerlix, in foodtech business.

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