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.
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.