India: Table reservation platform EazyDiner raises $4.6m from Beenext, others

Visual taken from EazyDiner website

Table reservation platform EazyDiner has raised Rs 30 crore ($4.59 million) funding in its Series B round from Japanese investment firm Beenext and an unnamed international family office, according to a statement.

Existing investors DSG Consumer Partners and Saama Capital also participated in the round, the company said. The current round values EazyDiner at Rs 250 crore pre-money.

EazyDiner is an app that allows users to book reservations in eight Indian cities and Dubai with around 53,000 restaurants listed on its platform. The company plans to expand into 12 other cities in the next three months including Jaipur, Udaipur and Hyderabad.

“What we love about EazyDiner is the founding team, domain expertise and the right market strategy. Experienced restauranteurs with a strong technology team backed by India’s best food critics gives them a domain that they can win in. We believe they will continue to be very strong influencers and the mainstay of food and beverage in India,” said Teruhide Sate, founder, Beenext.

The startup launched in April 2015. Four months back, it partnered with travel giant TripAdvisor for all table reservations.

“It is a market leader in its segment and is reducing the friction between the diner and the restaurant significantly. We are committed to be investing in EazyDiner for the long term and pleased with profitability in 4 cities-Delhi NCR, Mumbai, Chennai and Bangalore in a short span of 2.5 years.” said Deepak Shahdadpuri, MD, DSG Consumer.

In June, EazyDiner reportedly secured an undisclosed amount of funding from cricketer Yuvraj Singh’s VC fund YouWeCan Ventures. In August 2015, the startup had raised $3 million from DSG Consumer Partners and Saama Capital. Prior to that in April, it had raised $1 million in seed funding from DSG Consumer Partners and Gulpreet Kohli, former managing director of ChrysCapital.

Rohit Dasgupta, CEO of EazyDiner said, “we are today seating over 1,00,000 diners every month all across India making us the largest instant table reservation platform in India. Our proprietary product, LiveTable, enables the instant confirmation promise to our customers and is today installed in hundreds of top end restaurants and we are able to confirm a table reservation within 18 seconds as compared to the other dining platforms which take close to three minutes.”

In the food-tech space, other startups like Innerchef raised a funding from Russia-based Chernovetskyi Investment Group (CIG) and Monkeybox raised an undisclosed amount in its pre-Series A round from existing investor Blume Ventures recently.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.