India’s love for food has been fairly reflected in the recent big-ticket investments which country’s start-ups have raised. After Zomato’s recent $60 Million raise, Mumbai-based food-ordering app TinyOwl has raised $3 Million in a fresh round of funding (via Economic Times). The investment was led by Sequoia Capital and Nexus Ventures.
As per Tiny Owl technology, the company behind the app, these fresh funds will be used primarily for expansion into other Indian cities. The company currently caters in its home market Mumbai and plans to further deepen its network in India’s financial capital.
India’s app-based food ordering platforms have been gathering quite a traction from investments lately. Delhi based Zomato recently raised $60 Million and is already present in over 13 countries. Zomato also introduced sponsored listings and ads on its mobile app and promises revenue generation at a rapid pace.
As has been the case with most of India’s new-age start-ups, TinyOwl is also a product from India’s prestigious Indian Institutes of Technology. TinyOwl claims over 3,500 Mumbai based restaurants in its network and is planning to deepen this network even further. The app is currently available on Android and iOS.
Company CEO Harshvardhan Mandal said,
We’ve grown to more than 3,500 restaurants in Mumbai and are servicing thousands of customers. We aim to offer the best personalised experience to our users and are setting up a data science and research lab for the purpose.