Restaurant management platform UrbanPiper has raised $24 million led by existing investors Sequoia Capital India and Tiger Global, and new investors Swiggy and Zomato.
UrbanPiper aims to use the VC funding to scale its product and engineering teams and looks to expand to more than 200,000 restaurant locations globally in the next two years.
UrbanPiper has restaurant chains such as 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 10 times growth over the past two years.
Other investors also participated in the round, including Pankaj Chaddah (Shyft), Ankit Nagori (Curefoods), Saahil Goel and Vishesh Khurana (Shiprocket), Khadim Bhatti and Vara Kumar (Whatfix), among others.
The restaurant management platform is live in more than 27,000 restaurant locations across eight countries.
Through UrbanPiper, restaurants can integrate aggregators onto a single dashboard and connect it with their points of sale resulting in a 70 percent decrease in order failure.
It currently processes 14 million orders per month, which equates to approximately US $750 million of estimated order value annually.
UrbanPiper plans to increase its headcount in the country to more than 250 in the next year.
“With this investment, we will continue to widen UrbanPipera’s offerings to meet many more digital opportunities in the restaurant ecosystem, along with bolstering our platform capabilities,” said Saurabh Gupta, CEO, UrbanPiper.
