CheckMate gets $3 M funding from Tiger Global
CheckMate, a startup headquartered in New York, founded by Vishal Agarwal is a technology platform, which enables restaurants to handle multiple food delivery apps seamlessly.
CheckMate, a startup founded by Vishal Agarwal with a presence in the US and a tech team based in India has received Series A funding of $3 million from Tiger Global.
The funding by Tiger Global marks the return by the investment firm in India, as it had seen a slowdown in the recent past.
CheckMate helps restaurants deal with the challenge of handling multiple food ordering platforms. This typically increases the work flow for restaurants in managing different companies like Uber Eats, GrubHub, DoorDash etc.
The latest funding is the first time that the two-and-half-year old startup has raised outside money for its business, according to media reports.
The technology solution of CheckMate connects various delivery platforms to the restaurants system. The startup which is based in New York has rolled out to more than 1,000 locations in the US. It also recently expanded into Australia.
The investment by Tiger Global also gives an indication on the future roadmap of the investment firm following a lull period. It was one of the few investors who had made large bets on companies such as Flipkart, Ola, much before they had gained unicorn status.
The investments also paid rich dividends for Tiger Global following the $16 billion infusion into Flipkart by Walmart to pick a majority stake in May this year. Flipkart was valued at around $21 billion during the time of acquisition.
According to media reports, Tiger Global had around 20 percent stake in Flipkart and reportedly made a gain of $3 billion on an investment of $1 billion. It had divested around three-fourth of its stake in Flipkart following Walmart’s investment.
