New Delhi-based Alchemy Web Pvt Ltd., that owns and operates the online portal LimeTray has raised undisclosed amount of funding from JSW Ventures.
As per the company’s statement, the latest proceeds will help them strengthen its ‘restaurant OS’ product suite and enable it to expand in international markets, reported Money control.
LimeTray, a web-based marketing platform that provides back-end technology to restaurants to run their operations, including ordering, PoS, online presence management and customer relationship management (CRM) and digital marketing.
The company was founded in 2013 by Akhilesh Bali and Piyush Jain. Bali previously headed FoodPanda India, while Jain was online marketing head at FoodPanda, during the same period
“As we expand on our vision to help restaurants run better & build an international footprint, we welcome JSW Ventures as partners in this journey.” said Akhilesh Bali, Co-Founder & CEO of LimeTray.
The company has quite presence in India, Dubai, Nigeria and Indonesia and claims to have 2000 customers. It caters to food chains such as Burger King, Mad over Donuts, Taco Bell and Krispy Kreme, among others.
LimeTray had raised an undisclosed funds in its Series A round from Matrix Partners India in October 2014. Previously, it secured angel round from Umang Kumar of Gaadi.com and Ankur Singla of Akosha besides Ankur Warikoo, head-APAC of Groupon India Pvt Ltd, Anurakt Jain, and Kunal Khattar.
On latest development, Gaurav Sachdeva, Managing Partner of JSW Ventures, said, “The team has built a competitive advantage on product and has a unique positioning with low churn across restaurants,”
The company competes with the likes of Posist and Torqus. Other players such as HMS Infotech Pvt Ltd, and Zomato also operates in the same space.
As per the National Restaurant Association of India (NRAI), the Indian food service is expected to grow at an annual rate of 11% to touch $68 billion by 2018.
