Hotline: 1800 102 2007
X
Loading
Search Business Opportunities
2015-02-04

Food ordering mobile app TinyOwl in talks to raise $5 million

TinyOwl currently offers a mobile app that detects the users location and shows restaurants in the vicinity through which food can be ordered.

Mumbai-based food ordering mobile app TinyOwl Technology Pvt Ltd is said to be in talks to raise $5 million in its Series B round of funding from its existing investors - Sequoia Capital and Nexus Venture Partners, according to separate media reports.

TinyOwl currently offers a mobile app that detects the users location and shows restaurants in the vicinity through which food can be ordered. Orders can be paid for by card or by cash on delivery. The app currently services only certain localities in Mumbai.

"We plan to raise $5 million. The amount may increase. As of now we have interest from our existing investors. The whole amount may come from them. It may take two-three months," Harshvardhan Mandad, co-founder and CEO of TinyOwl, told Techcircle.in.

Founded in March 2014 by a group of IIT Bombay alumni Harshvardhan Mandad and was later joined by Saurabh Goyal, a back-end developer with VCs-backed real estate portal Housing.com, as a co-founder.

On each order that takes place, TinyOwl charges charge between 10-20 per cent from restaurants. "We are also building technology for restaurants, which will help them in increasing their productivity and sales. At TinyOwl, we were trying to solve that problem of ‘What to eat?’ because many times it happens that we want to eat something/order something, but we are not able to decide," said Mandad.

The startup is planning to enter other metro cities by mid 2015 and has partnered with more than 3,500 restaurants in Mumbai area.

In December 2014, the firm raised about $3 million in its Series A round of funding from Sequoia Capital and Nexus Venture Partners to invest in technology and expansion.

Related opportunities
  • Ice creams & Yogurt Parlors
    Baskin-Robbins – Join the leader with decades of experience to..
    Locations looking for expansion Maharashtra
    Establishment year 1993
    Franchising Launch Date 1993
    Investment size Rs. 10lac - 20lac
    Space required 200 sqft to 400 sqft - Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Mumbai City Maharashtra
  • About:Based in Bengaluru, Shinag Allied Enterprises (SAS), an ISO 9001:2008..
    Locations looking for expansion Karnataka
    Establishment year 1990
    Franchising Launch Date 2016
    Investment size Rs. 1 Cr. - 2 Cr
    Space required -NA-
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Bangalore Urban District Karnataka
  • After School Activities
    Started in 2009, SportyBeans is India’s most reputed non-competitive multi-sport..
    Locations looking for expansion Maharashtra
    Establishment year 2009
    Franchising Launch Date 2010
    Investment size Rs. 10lac - 20lac
    Space required 1200-1500 sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Maharashtra
  • Stationery Stores
    About We are a Hong Kong based company with our production..
    Locations looking for expansion Gujarat
    Establishment year 2015
    Franchising Launch Date 2017
    Investment size Rs. 20lac - 30lac
    Space required 150 - 650 Sq.ft
    Franchise Outlets -NA-
    Franchise Type Unit, Multiunit
    Headquater Ahmedabad Gujarat
Insta-Subscribe to
The Franchising World
Magazine
For hassle free instant subscription, just give your number and email id and our customer care agent will get in touch with you
OR Click here to Subscribe Online
Daily Updates
Submit your email address to receive the latest updates on news & host of opportunities