Noida-based online restaurant table reservations startup Dineout has acquired Pune-based restaurant management solutions provider Torqus for an undisclosed amount.
The latest acquisition will help Dineout expand its services, strengthening its position as a full stack technology service provider in the restaurant domain.
Post acquisition, the Torqus team will be joining Dineout and it will continue to operate as an independent business. The acquisition will help Torque to speed up innovation and client deliverables, leverages Dineout’s resources.
Torqus was founded by Tanmay Ratnaparkhe and Suneet Kulkarni as a Point of Sale (POS) provider in 2013. The product is now being used in over 3,500 outlets across more than 70 cities in more than five countries.
The startup also offers other products including Head Office, Supply Chain Management, Mobile Point Of Sale, and Restaurant Billing Software, to address different needs of its customers.
Some of its clients include Freshmenu, Theobroma, The Bowl Company, Curefit, Coffee by Di Bella, Swensen’s, Barshala, Baker’s Basket, Malaka Spice and InnerChef, among others.
Talking about the acquisition, Tanmay Ratnaparkhe, Co-founder and CEO of Torqus, said, “Torqus is already the most comprehensive SaaS-based restaurant management software platform in the industry. We are excited to join Dineout as together we can deliver the best end-to-end experience to restaurateurs – from generating new business to managing backend operations.”
Founded in 2012 by Ankit Mehrotra, Vivek Kapoor, Nikhil Bakshi and Sahil Jain, Dineout claims to currently serve more than 10 million diners across 6,500 restaurants in top nine cities including Delhi, Mumbai among others.
Since Dineout’s acquisition by Times Internet in 2014, the startup has acquired Gourmet Passport and one-stop CRM platform inResto, to strengthen its business.
Other table reservation startup competing with Dineout in India include EazyDiner, EveningFlavors, Eatigo, and Table Grabber, among many others.
In August 2018, EazyDiner raised ₹41 crore in fresh funding.
In July 2018, Eatigo raised funds in a pre-series C funding round led by TripAdvisor.