[Funding alert] UrbanPiper raises $24M Series B round led by Sequoia, Tiger Global
Bengaluru-based Sequoia Capital India and Tiger Global Management and new investors and ., a one-stop restaurant management platform, on Monday said it raised $24 million in a Series B round led by existing investors
A slew of angel investors, including Pankaj Chaddah (), Ankit Nagori ( ), Saahil Goel and Vishesh Khurana ( ), and Khadim Bhatti and Vara Kumar ( ), among others, also participated in the round.
According to a press statement, UrbanPiper plans to use the funds to scale its product and engineering teams, strengthen its platform capabilities, and broaden its offerings to enable more services to restaurants.
Saurabh Gupta, Co-founder and CEO, UrbanPiper, said,
“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. We are grateful to see both Swiggy and Zomato come together and participate in this round; a huge validation that what we are building is adding a lot of value to the food ecosystem.”
Founded in 2015 by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, Bengaluru startup UrbanPiper is building a full-stack restaurant management platform to help restaurants operate and scale their businesses with minimal hassle.
At present, a restaurant signs up with an average of six to ten different online channels/aggregators — making it challenging to manage multiple tablets/dashboards. Through UrbanPiper, restaurants can integrate all these aggregators onto a single dashboard and connect it with their points of sale, resulting in a 70 percent decrease in order failure.
Owing to its scalability and reliability, the startup counts several restaurant chains, including McDonald’s, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods, etc., among its user base. It processes over 18 percent of all online food orders placed each month in India and has achieved 10X growth over the past two years.
“Due to pandemic-led disruptions, merchants now increasingly want to adopt digital channels and upgrade their operations. UrbanPiper is at the forefront of this digital transformation, and is strategically positioned to build infrastructure connecting digital players to merchants in the F&B ecosystem,” said Shraeyansh Thakur, Principal, Sequoia India.
The B2B restaurant-tech startup claims to operate in 27,000+ restaurant locations across eight countries, including India and the Middle East. It processes 14 million orders per month — approximately $750 million of estimated order value annually.
In the next two years, UrbanPiper plans to launch in more regions across India, MENA, and the EU to onboard 200,000+ restaurant locations on the platform.
"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.
The company, which has over 150 employees in India, plans to increase its headcount in the country to more than 250 next year.