Indian food ordering service TinyOwl raises $16m

Based in Mumbai, TinyOwl was set up by a group of Indian Institute of Technology - Bombay alumni in March last year. The business's location-based mobile app allows users to make food delivery orders from a range of restaurants. Customers are then able to track their orders through the app and pay by cash or credit card.

At present TinyOwl only caters to selected parts of Mumbai. However, the start-up will use the extra funding to expand its footprint in the Indian capital and also move into other metropolitan areas.

The start-up initially raised $1 million in August last year, and followed up with a $3 million Series A round led by Sequoia and Nexus in December.

According to TechCrunch, the start-up eventually aims is to take its service to over 50 cities in India before the end of the year. At the same time it hopes to pass 50,000 daily orders per day before the end of this year; its current rate is 3,000 to 5,000 orders a say.

The market already has plenty of competiton. Rocket Internet-backed delivery service Food Panda recently entered the Indian market with acquisition of TastyKhana last year and this month bought domestic rival Just East.

Another potential competitor is Zomato, a local VC-backed restaurant search app which raised a $60 million Series E round of funding from Vy Capital - and existing backers Info Edge and Sequoia - last November. The company - which is currently on a global acquisitions binge - is reported to be mulling the launch of its own food ordering service.

 

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• South Asia
• Consumer
• Technology
• Early-stage
• India
• Consumer
• Technology
• TMT
• Matrix Partners
• Sequoia Capital
• Nexus India Capital Advisors
• Venture