Tinyowl hoots in Mumbai with fresh funding. Recently, Tinyowl has raised $3 million funding from Sequoia Capital India Advisors and Nexus Venture Partners. The company was founded early 2014 by five ex IIT alumni. The idea of integration like every restaurant cannot have online ordering with payment, companies like Tinyowl and Foodpanda filled the gap by food ordering app using robust technology. A small commission will be charged by these food ordering companies.
Tinyowl is an app available in Android and iOS environments allows users to order food from their favourite restaurants and get it delivered at their doorsteps. The company has effectively harnessed the technology of mobile platform to build a scalable and sustainable venture. Further the app integrated with the state of the art of payment system, provides hassle free and secure experience to customers.
Tinyowl’s location based app allows customers to pick and choose dishes and tracks the delivery, gives choice to make payment either through cash or card. Currently Tinyowl operates only in Mumbai and planning to roll out their services in other metropolis.
Within six months of the launch of Tinyowl, has emerged as market leader in this sector. The company has tied up with 3,500 restaurants in Mumbai and servicing thousands of delighted customers. Tinyowl’s vision is to enable all Indians to order food of their choice with few taps on their smartphones.
Tinyowl received $1 Million of funds from Sequoia Capital during August 2014. The company got shot of another $3 Million funds from Sequoia Capital and Nexus Venture Partners during December 2014 as Series ‘A’ funding.
As per press release by the Tinyowl, the funds will be utilized to expand its presence in Mumbai and other major metros. Harshvardhan Mandad co founder of Tinyowl, “We aim to offer the best personalized to our users and are setting up a data science team and research lab for this”.
“We believe that the food ordering experience will make a quantum leap in the era of smartphones, and look forward to partner with Tinyowl team in their quest to make this a reality,” said Gautam Mago, Principal, Sequoia Capital Advisors.
Suvir Sujan, co founder of Nexus Venture Partners said “The food ordering needs technological and operational solutions to make the discovery, order taking and delivery of food more efficient. There is no better team in the country than Tinyowl to address this.”
Food ordering industry is witnessing lot of activities; venture capitalist like Sequoia has invested in Series ‘E’ funding for Zomato. Rocket Internet backed Foodpanda acquired Tastykhana for an undisclosed amount. These food ordering companies offers discounts if the customer uses their services.