UrbanPiper, a restaurant management platform, announced a $24 million funding round headed by existing investors Sequoia Capital India and Tiger Global and new investors Swiggy and Zomato on Monday.
The funds will be used to expand the platform’s product and engineering teams to reach over 200,000 restaurant locations worldwide within the next two years.
“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.
In a statement, the company now processes over 18% of all online food orders done in India each month and has grown ten times in the last two years.
The restaurant management software is active in more than 27,000 restaurant locations.
“UrbanPiper is one of our key partners enabling us to seamlessly engage with restaurants and scale faster through their point-of-sale solutions,” said Sriharsha Majety, CEO of Swiggy.
“Sequoia Capital India is excited to deepen the partnership with the UrbanPiper team as they build further on their mission to empower restaurants globally, and welcome Zomato and Swiggy to this partnership,” added Shraeyansh Thakur, Principal, Sequoia India.
In the coming year, UrbanPiper wants to expand its workforce in the country to more than 250 people.