SmartQ enables users to order food from a service outlet in a food court within 20 seconds and get an alert when the food is ready to be picked up
Bangalore-based SmartQ, a mobile app that enables queue-less ordering at food courts in malls and corporate office complexes, has raised an undisclosed sum in pre-series-A funding from YourNest Angel Fund.
Vijay Jumani, former CEO of BabyOye also participated in the round.
The startup will utilise the funds to develop and deploy technology for verticals like amusement parks and retail, targeting a market size of more than US$100 billion.
“We have witnessed phenomenal customer response and have been growing a rate of 60 per cent. In Bangalore, we have partnered with large employers such as IBM, Wipro, and Accenture and already have 45,000 app downloads. The funds raised will help us expand our business to newer geographies like Mumbai and Pune and give us the necessary momentum to achieve our target of acquiring 1 million-plus users in the next 18 months,” said Krishna Wage, CEO of SmartQ.
Founded in 2015 by Wage and Abhishek Ashok, SmartQ aims to solve the everyday problem of uncertainty and delays over food ordering in food courts frequented by thousands of consumers every day. The app enables users to order food from a service outlet in a food court within 20 seconds and get an alert when the food is ready to be picked up, thereby eliminating the queues at both the PoS and pickup counters.
The company has also tied up with mobile wallets like PayUMoney and Paytm to enable swift cashless transactions for its users. It charges a commission for every order serviced by its platform.
SmartQ has presence in over 10-15 IT companies and IT parks in Bangalore. The company has more than 45,000 users on its Android app currently and clocks over1,800 transactions daily. It claims to be witnessing a growth of 50 per cent every month.
Founded in April 2011 by Sunil K Goyal, Sanjay Pande and Girish Shivani, YourNest is an early-stage VC fund that invests in new connected economy represented by mobile, Internet, data analytics, software and cloud. The fund has invested in more than thirteen startups, including Fashalot, aahaa stores, MoMark, mycity4kids, Proof of Performance, Uniphore Software, OpKey, GolfLan, BetaOut, and Rubique.com.
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