Restaurant Franchise Opportunities

Oct, 07 2014

Matrix Partners has invested in online food-ordering platform LimeTray

Matrix India has Rs 30 billion ($488 million) under management and invests in consumer-focused companies at the seed, early and early growth stages.

By Franchise India Bureau
Matrix Partners has invested in online food-ordering platform LimeTray

Matrix Partners India has provided a Series A round of funding for Alchemy Web Private which operates online food ordering platform LimeTray. However the company did not disclosed the amount of funding.

The company was founded by Akhilesh Bali and Piyush Jain who have earlier worked with  FoodPanda in India has previously received backing from a string of angel investors. These include Umang Kumar, CEO of Gaadi.com, Ankur Warikoo, Asia Pacific head at Groupon, and Ankur Singla, CEO of Akosha.

LimeTray is a back-end technology provider to restaurants which enables them to take orders online and arrange delivery, manage their internet presence and keep a handle on point of sales and customer relationship management systems.

The company has signed with over 200 restaurants in the Delhi-NCR region.

"Restaurants are adopting a range of mobile-first technology at a rapid pace to solve their business needs be it discovery, dining experience, ordering, loyalty or restaurant management. The food-tech market is deep enough to have multiple winners, “said, Vikram Vaidyanathan, MD, Matrix Partners India..

Matrix India has RS 30 billion ($488 million) under management and invests in consumer-focused companies at the seed, early and early growth stages. It is part of the global Matrix network of funds that has $3 billion under management in the US, China and India.

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