Y Combinator backed Explorex raises $5M in seed round
Explorex will use this fresh round of capital towards product development and market expansion activities.
Y Combinator-backed, has raised $5 million in a seed round of funding six months after announcing its pre-Seed round from prominent angel investors based out of Silicon Valley.
This round was led by Taher Savliwala - Super Angel (500+ investments including the likes of Coinbase), while Kevin Lin - co-founder of Twitch, James Park - co-founder and CEO of Fitbit, Harpreet Rai - CEO of Oura and Liron Shapira - Co-founder of Relationship Hero, also participated in that round.
Explorex, which focuses on the restaurant industry, will use this funding round towards product development and growth related activities which will include expansion in metros like Mumbai and Delhi.
Prior to this round, Explorex had raised $1.5 million in pre-seed from HOF Capital, Smaregi, Pioneer Fund, Sevenstars Capital among others.
Founded by Mainak Sarkar and Pritam Khan, Explorex has built a full-stack operating system called Bridge OS which is designed to suit all the needs of the restaurant industry. This platform assists the restaurant’s management team with - digitising the orders via QR code ordering, payment processing tool, guest data collection and recognition tool, inventory and recipe management tool, and financial management tool.
On the investment into Explorex, Taher Savliwala said, “What compelled me to take a large bet on these guys was their deep understanding of their customers. Covid has accelerated the adoption of specific technologies, such as QR codes for menus. Combining this with the growing market in India and a customer-focused founding team, this seemed like a no-brainer bet.”
Talking about their ecosystem solution, Explorex founder & CEO Mainak Sarkar said, “Our ecosystem solution is not only helping restaurant owners make more money, but also enabling them to provide their staff with a much better workplace experience as well as providing their customers with an enhanced dining experience.”
Edited by Akanksha Sarma