Online food ordering startup Tinyowl has confirmed that it has laid off employees across Pune and Bangalore. This comes after YourStory had published a news stating that it has fired over 160 employees from the company.
According to the reports and our sources, the company fired people from the Sales and Marketing team citing cost cutting as the reason.
Tanuj Khandelwal, co-founder of TinyOwl, told Inc42, “The elimination of certain positions in the company have been made on a strategic level, to increase efficiency, productivity and re-direct our diverse talent to focused departments, providing the best innovative offerings to our customers. We appreciate the contributions of all the employees in making TinyOwl an amazing growth story. We see this development as a positive move towards growth, and will continue to hire informed talent across the country, to provide our customers a seamless food ordering experience.”
The company had raised a total of $20 Mn in three rounds of funding from investors including Matrix Partners, Nexus Venture Partners and Sequoia Capital. Earlier, there were reports that Tinyowl is in talks with foodpanda . However, according to sources, the companies have closed talks.
According to a story in Mint, Tinyowl is in advanced stages of raising a $50 Mn round.
Currently, Tinyowl is operating in six major cities including Mumbai, Hyderabad, Pune, Bangalore, Gurgaon, and Chennai with further plans to expand to 50 cities by the end of this year. The startup claims to fulfill approximately 3,000-5,000 orders daily, delivering from about 4500 restaurants.