Mumbai-based food ordering app TinyOwl has raised Rs 100 crore from Matrix Partners, Sequoia Capital and Nexus Venture Partners in Series B round. Earlier TinyOwl raised $1 million in August 2014. followed by a $3 million Series A round in December 2014.
The company plans to utilize the Series-B funding to expand its footprint to over 50 cities in the country and on technology to enhance end-user experience.
TinyOwl is a Mumbai-based company founded by IITB alumni in 2014 and is currently operating in Mumbai city only. The app available for Android and iOS platform smartly detects user's location and show restaurants in his/her vicinity and allows users to order food from multiple restaurants in one go at no extra fee.
TinyOwl has associated with more than 4,000 restaurants in Mumbai and processes about 2,000 orders a day and Currently has two products - 'TinyOwl for food' from nearby restaurants and 'TinyOwl HomeMade' for healthy food from local chefs. The startup currently has a team strength of 400 employees.
TinyOwl is facing a stiff competition from other players in market such as FoodPanda and TastyKhana. Moreover, food discovery portal Zomato has already announced that will launch a food order service in India next month.
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