VC Fund Investments
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.
From the Venture Intelligence PE-VC Deal Database: Between Dec-16 and Oct-19, UrbanPiper raised $8-M from Axilor Ventures, Tiger Global, Sequoia Capital India, Kris Gopalakrishnan, and others. Between Jan-19 and Jan-20, Adonmo raised $4-M from BAce Capital, Astarc Ventures, Sharp Ventures, Capier Investments, and others. (Subscribers to the database can login to view the valuation, deal structuring and other transaction details.)
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