AVCJ

Sequoia, Nexus invest $3m in India food-ordering start-up

  • Andrew Woodman
  • LinkedIn  
  • Google plus  
  • Save this article  

Indian food-ordering start-up TinyOwl Technology has raised $3 million from Sequoia Capital and Nexus Venture Partners in Series A round of funding.

The Mumbai-based start-up was set up by a group of Indian Institute of Technology - Bombay alumini in March. The business, which previously raised $1 million from Sequoia in August, has developed a location-based mobile app that allows users to make food delivery orders from a range of restaurants.

Customers are able to track their orders through the app and pay by cash or credit card. However, at present TinyOwl only caters to selected parts of Mumbai. The start-up will use the extra funding to expand its footprint in the Indian capital and also move into other metropolitan areas.

The business already claims to be a market leader in Mumbai with a network of over 3,500 delivery restaurants, but it is not the only player. Other VC-backed start-ups in the space include Foodpanda.com, which was incubated by Germany's Rocket Internet, and now has a presence in 40 countries including India, and JustEast.in, which is backed by Axon Partners.

There has also been a degree of consolidation, with Foodpanda acquiring TastyKhana, a company backed by another global food-ordering business, Delivery Hero.

  • LinkedIn  
  • Google plus  
  • Save this article  

More on Venture

Latest News

world-hands-globe-climate-esg
Asian GPs slow implementation of ESG policies - survey

Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...

  • GPs