Delhi based Alchemy Web Private Limited, which provides restaurants with a platform to run day-to-day operations, under the brand name LimeTray has raised its Series A round of funding led by Matrix Partners.
The amount of funding has been left undisclosed as of now. Other investors in the company include Umang Kumar (CEO Gaadi.com), Ankur Warikoo (Head-APAC, Groupon), Ankur Singla (CEO, Akosha), Anurakt Jain, and Kunal Khattar.
Alchemy Web is a provider of back-end technology to restaurants to enable them to carry out critical processes like managing their online presence, doing deliveries, and managing their POS and CRM systems. It has already signed up over 200 restaurants, mainly in the Delhi NCR area.
“Our vision is to build a full-stack technology platform for restaurants across India. We are restaurant-first in our approach, and want to enable more and more restaurants to come online and solve critical business needs using our platform. We decided to partner with Matrix Partners India as we believe they will give us the necessary edge to win in this market.” said Akhilesh Bali, Founder and CEO, LimeTray.
“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. We share Akhilesh and Piyush’s vision for an Indian restaurateur’s needs and are excited about partnering with them on this journey to create a large company. We believe other SMEs are also ready to adopt technology. Matrix Partners India will make multiple investments along this theme.” said Vikram Vaidyanathan, Managing Director, Matrix India.
LimeTray is founded by ISB alum Akhilesh Bali, who previously led FoodPanda India and also ran a startup called MithaiMate (sweets delivery), alongwith Piyush Jain, who was earlier Head of Online Marketing at FoodPanda.
Last week, Matrix had led investment in Red Monster Games India Pvt Ltd, a mobile social gaming company.