Swiggy, Zomato back restaurant management startup UrbanPiper in a $24 million funding round

Bengaluru: Restaurant management platform, UrbanPiper, announced that it has raised $24 million in a new funding round led by existing investors Sequoia Capital India and Tiger Global, and food aggregator majors, Swiggy and Zomato. This is the first time both these food-delivery majors have invested together in a startup.

Previously, Zomato and Swiggy have held talks with multiple startups including mobility venture Rapido, but never ended up backing a company together. Swiggy recently
led a $180 million round in Rapido, which had also held talks with Zomato.

A slew of angel investors also participated in the funding round including – Zomato and Shyft cofounder, Pankaj Chaddah; Curefoods founder Ankit Nagori; Shiprocket founders Saahil Goel and Vishesh Khurana among others.

The company plans to use the funds raised to scale its product and engineering teams, strengthen its platform capabilities, as well as broaden its offerings to enable more services to restaurants.

Founded in 2015 by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, UrbanPiper provides business-to-business (B2B) software to help restaurants run their entire operations and bring a suite of digital offerings to manage the commerce workflows.

“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 Gupta, CEO, UrbanPiper.

UrbanPiper counts several marquee restaurant chains such as McDonald’s, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods, etc among its user base. The company currently claims to process over 18% of all online food orders placed each month in India.

The new-age restaurant management platform is already live in over 27,000 restaurant locations across eight countries, including India and the Middle East. It currently processes 14 million orders per month.

Now, UrbanPiper plans to launch in more regions across India, Middle East and North Africa (MENA) and Europe with the aim of onboarding 200,000 restaurant locations on the platform in the next two years.

“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 company, at present, has over 150 employees in India, and plans to increase its headcount in the country to 250 in the next year.

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