Online restaurant table reservation startup EazyDiner has raised around ₹41 crores ($5.85 million) in a fresh round of funding led by Denlow Investment Trust and early-stage investment firm Beenext. After the funding, the startup is valued at around ₹280 crores ($40 million).
John Price, chairman of Mars Pension Trustee, the UK-based pension fund of US-based food giant Mars, will be joining the board of EazyDiner.
The freshly infused funds will be used to expand its presence along with boosting its loyalty programme, EazyDiner Prime, that was launched in April this year.
This funding comes after the startup had raised $4.6 million in a series B round led by Saama Capital and DSG Consumer Partners in October 2017.
EazyDiner was founded by Vir Sanghvi, along with Sue Reitz, Sachin Pabreja, Shruti Kaul, Ruchika Dhamija, Kapil Chopra and Manish Kutula in 2014, with its headquarter in Delhi. It provides a platform for its users to book a table at any of the 3,600 restaurants in its network, across 11 cities including Delhi, Mumbai, Pune, Goa, Kolkata, among others.
“India’s restaurant dining scene has been growing exponentially every year. EazyDiner is a play on India’s burgeoning restaurant industry and food and beverage consumption out of home,” said Kapil Chopra, co-founder, EazyDiner.
The startup is also setting up operations in Dubai, with plans to expand to five more cities in India, over the next two months, starting from Hyderabad.
Other players in the online restaurant table reservation space include Eatigo, Noida-based Dineout, along with Zomato.
Last month, Eatigo had raised funds in pre-series C round from TripAdvisor, in order to expand its presence and product offering. Zomato had last raised $200 million ins series I funding led by Softbank‘s investment arm Ant Financial in February this year.
Recently, Zomato had also launched its food delivery service across seven tier 2 cities in India.