Zomato, Swiggy invest in Sequoia, Tiger-backed B2B software platform UrbanPiper

One-stop restaurant management platform UrbanPiper stated on Monday that it has raised $24 million in a Series B funding round led by existing investors Sequoia Capital India and Tiger Global. It also onboarded Zomato and Swiggy as its new investors. Pankaj Chaddah (of Shyft), Ankit Nagori (of Curefoods), Saahil Goel and Vishesh Khurana (of Shiprocket), Khadim Bhatti and Vara Kumar (of Whatfix) also invested in the funding round. 

The B2B software platform aims to become a single-window platform to help restaurants run their entire operations as well as bring a suite of digital offerings together.

UrbanPiper’s user base including a range of marquee restaurants such as McDonald’s, Pizza Hut, KFC, Subway, Cure Foods, Taco Bell, Rebel Foods etc. It processes 18 per cent of all online food orders placed each month in India, and has achieved 10X growth over the past two years.

The Bengaluru-based start-up founded by Saurabh Gupta, Anirban Majumdar, and Manav Gupta, is building a full-stack restaurant management platform to help eateries operate and scale their businesses with minimal hassle.

Restaurants currently sign up with an average 6-10 different aggregators of channels. With UrbanPiper, they will be able to integrate all these aggregators into a single dashboard. The start-up said that this will result in a 70 per cent decrease in order failure. 

The company will use the funds to scale its products and engineering teams, strengthen its platform capabilities, and broaden its offerings to enable more services to restaurants. 

The restaurant management platform is already live in over 27,000 restaurant locations across eight countries, including India. It currently processes 14 million orders per month, which equates to approximately $750 million of estimated order value annually. It has plans to launch in more regions in the country. 

Saurabh Gupta, CEO, UrbanPiper, said, “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.”

Sriharsha Majety, CEO, Swiggy, said that UrbanPiper is one of their key partners enabling them to seamlessly engage with restaurants, 

The company has over 150 employees in India, and plans to increase its strength to over 250 in the next year.

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