SmartQ, a mobile app that enables queue-less ordering at food courts in malls and corporate office complexes has raised $1 million from a group of Dubai-based investors.
The Bengaluru-based foodtech startup also saw participation from existing investor YourNest in the latest funding round. Following the deal, Anvita Varshney former MD of Lazada group has joined the board of advisors at SmartQ.
SmartQ was founded in 2015 by Krishna Wage and Abhishek Ashok. The company weeds out the pain of being in queue for grabbing lunch or snacks at crowded, corporates, IT parks and working hub.
It aims to solve the everyday problem of uncertainty and delays over food ordering in food courts, frequented by thousands of consumers every day.
Also Read: Alibaba Vs Tencent: Dawn of new battle for foodtech crown on foreign soil ‘India’
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 (point of sale) and pickup counters.
The company has also tied up with mobile wallets like PayUMoney and Paytm to enable swift cashless transactions for its users.
Krishna Wage, founder and CEO, SmartQ, said, “The funding has enabled us to focus on the next level of strategic growth while also scaling up on technology, talent and brand building in full swing.” SmartQ intends to use the raised funds to bolster its efforts in growing business outside India.
The company charges a commission for every order serviced by its platform. SmartQ has seen quick adoption and already has a presence in over 10-15 IT companies and IT Parks in Bengaluru including IBM, Wipro, and Accenture.
The company claims to clock over 1 lakh transactions every day and has been growing 50 per cent month-on-month. It counts companies like Shell and Epsilon amongst its clientele base.
In 2016, SmartQ had raised pre-series-A funding from early-stage investor YourNest Angel Fund. Vijay Jumani, ex-CEO of BabyOye also participated in the funding round.
The development was reported by TOI.
