Zomato to make $20-M strategic investments in UrbanPiper, AdOnMo To set up an NBFC

New Delhi-based, publicly listed Zomato has agreed to make strategic investments in startups UrbanPiper and AdOnMo. Bengaluru-based UrbanPiper, which helps restaurants manage online orders through its SaaS platform, is to raise USD 5 million from Zomato for a 5% stake as part of a larger USD 24 million round. UrbanPiper is a B2B software platform that acts like a "middle layer" between restaurants and food ordering and delivery players and enables restaurants to integrate with multiple players through a single digital interface. It currently processes around 12 million orders a month at 23,000+ restaurant locations in the country. Hyderabad-based adtech startup AdOnMo is to raise USD 15 million from Zomato for a 19.48% stake. AdOnMo's proprietary technology enables cloud-connected digital screens with contextual and targeted advertising capabilities. Further, Zomato will incorporate a non-banking finance company (NBFC) as a wholly owned subsidiary.