peAR, an augmented-reality based in-restaurant ordering app, has raised Rs 4.2 crore in its Pre-series A round led by 1crowd and Chennai Angels and co-Led by Inflection Point Ventures (IPV).
The funds will be used to ramp up the firm’s current suite of solutions across geographies and to address more restaurant challenges as well as building a suite of integrated restaurant-tech solutions, the company said in a statement.
Founded in 2019 by Dharmin Vora, Dhruvesh Mehta, and Parth Vora, peAR helps users visualize the dish before ordering, thus making sure customers have a delightful experience at the restaurant. It uses Augmented Reality to solve this. Their proprietary tech to transform the food choices on the menu into 3D images has enabled them to convert boring paper menus into interactive 3D Menus. This helps restaurants upsell as the orders are also placed digitally.
The startup claims to have processed over 35k orders monthly, across 800 restaurant partners, doing Rs 17 crore annualized GTV on their ordering platform. It’s a team of 45 members, building the leading AR-tech solutions for Indian restaurants to increase their business & streamline operations.
Inflection Point Ventures (IPV) is an angel investing platform with over 7400 CXOs, HNIs, and professionals to together invest in startups. IPV has announced the launch of a $50 million CAT 2 AIF Physis Capital to invest in pre-Series A to Series B growth-stage startups.