UrbanPiper Technologies Pvt Ltd, a restaurant management platform, on Monday said it has racked up $24 million (around Rs 182.4 crore) as a part of its Series B funding co-led by existing investors Sequoia Capital India and Tiger Global.
The round also saw participation from Swiggy and Zomato, with angel investors including Pankaj Chaddah (Shyft), Ankit Nagori (Curefoods), Saahil Goel and Vishesh Khurana (Shiprocket), Khadim Bhatti and Vara Kumar (Whatfix).
UrbanPiper will use the fresh capital to scale engineering and product teams, strengthening its platform capabilities and broadening its offerings.
The company has over 150 employees in India and plans to expand the headcount to over 250 in the next year.
UrbanPiper was founded in 2015 by Saurabh Gupta and Anirban Majumdar.
It provides a dashboard to restaurants to help them automate their presence across different channels, thereby reducing manual intervention to update their catalogue across various online platforms and order cancellations.
The platform aims to launch in regions across India, MENA and the EU with the aim of onboarding over 200,000 restaurant locations in the next two years.
UrbanPiper counts restaurant chains such as McDonald’s, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods, among others as its user base.
It currently processes over 18% of all online food orders placed each month in India and has achieved 10 folds growth over the past two years.
“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.
"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,” said Sriharsha Majety, CEO, Swiggy.
In March 2018, UrbanPiper had raised an undisclosed amount in a pre-Series A round of funding from Kumar Vembu, co-founder of enterprise tech firm Zoho Corp, and existing investor Axilor Ventures.
In 2019, it raised $7.5 million (Rs 68 crore) in its Series A round of funding led by Tiger Global Management and Sequoia Capital.
