Online restaurant reservation platform, EazyDiner, has raised $3 Mn (INR 19.9 Cr) in a new round of funding led by Saama Capital and its existing investor DSG Consumer Partners.
The new round of funding comes just four months after its seed round of $1 Mn raised from DSG Consumer Partners, Gulpreet Kohli and others.
The online restaurant table reservation platform was started by a group of top hoteliers including Indian journalist and food writer Vir Sanghvi in January this year. The startup helps users find great restaurants and bars, and make online reservations within 30 seconds after reading concise reviews and recommendations by top critics.
EazyDiner claims to mark 25 times growth since its inception. The startup is on a look out to close this month with 10,000 diners or 2500 reservations in Delhi-NCR alone.
It currently has operations in Delhi & NCR and will start with its Mumbai operation by next week. The platform lists over 19,000 restaurants and bars with menus along with 500 restaurant partner for online reservations in Delhi and Mumbai together.
The startup plans to utilize the funds in expanding its operations in more tier I cities. For this year, EazyDiner is on a look out to capture Mumbai, Bangalore and Pune markets in weeks to come.
Ascertaining the smartphone penetration in India, EazyDiner witnesses 25% of its booking via iOS and Android app and clocking monthly revenue of $75,000 (INR 50 lakh).
According to Ash Lilani, Managing Partner and Co-founder of Saama, “There is tremendous opportunity in the dining out segment for a focused reservation play. With the curated content approach led by the illustrious Vir Sanghvi, bringing the convenience and ability to get real-time confirmation when booking along with deals with every booking makes EazyDiner an attractive proposition for the consumer.”
Where food is attracting every budding entrepreneur, this space is sure to face tough competition in every niche market. Amongst online table reservation engine operating in India, we have TableGrabber which is soon capturing the Indian market. Also, global restaurant reviews venture Zomato, forayed into the table reservation segment early this year by acquiring NexTable in the US.
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