Matrix India backs online food-ordering platform LimeTray

The company - founded by Akhilesh Bali and Piyush Jain, both of whom formerly worked at FoodPanda in India - has previously received backing from a string of angel investors. These include Umang Kumar, CEO of Gaadi.com, Ankur Warikoo, Asia Pacific head at Groupon, and Ankur Singla, CEO of Akosha.

LimeTray is a back-end technology provider to restaurants, enabling them to take orders online and arrange delivery, manage their internet presence, and keep a handle on point of sales and customer relationship management systems. The company has already signed up more than 200 restaurants, mainly in the Delhi National Capital Region.

"Restaurants are adopting a range of mobile-first technology at a rapid pace to solve their business needs be it discovery, dining experience, ordering, loyalty or restaurant management. The food-tech market is deep enough to have multiple winners," Vikram Vaidyanathan, managing director at Matrix, said in a statement.

He added that other small and medium-sized enterprises are ready to adopt this kind of technology and Matrix expects to make multiple investments in India along this theme.

Matrix India has INR30 billion ($488 million) under management and invests in consumer-focused companies at the seed, early and early growth stages. It is part of the global Matrix network of funds that has $3 billion under management in the US, China and India.

In the past fortnight, Matrix India has invested in mobile game developer Red Monster Games and seen existing portfolio company Quikr, an online classifieds platform, receive a $60 million round of funding led by Tiger Global Management.

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• Topics
• Early-stage
• Venture
• Technology
• Consumer
• South Asia
• Matrix Partners
• India
• Venture
• TMT
• Consumer