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Nov, 07 2015

Vadodara based Boibanit raises $150K from angel investors

The start-up aims to utilise the new funding for technology up-gradation as well as to add more restaurants and locations. Earlier, it had raised seed funding from the promoters of the company.

Boibanit, the Vadodara based food ordering marketplace, has raised $ 150K in an angel round of funding.

It was founded in April 2014 by Abhiudaya Parihar, Arunabh Parihar, Ram Manohar Rai, Rohit Gupta and Sudhir Prakash.

The start-up not only allows users to order food online from multiple restaurants but also acts as the delivery agent on behalf of those restaurants. The investment came from Varun Ahuja (R Kumar Textile Group) and Anubhav Verma (investment banker).

The start-up aims to utilise the new funding for technology up-gradation as well as to add more restaurants and locations. Earlier, it had raised seed funding from the promoters of the company.

“I used to visit Vadodara a lot, when I was working in Gujarat Refinery IOCL. There were times, especially when Dominoes refused to deliver over 3 kms a couple of times. Then we used to think why can’t there be someone who can deliver food of choice from restaurants in the city, located more than 5 Km from the Refinery Township. That’s how the idea of building Boibanit came to us” said Abhiudaya, Co-Founder & COO.

The order is received at Boibanit’s call centre and restaurants commitment on order & time is conveyed to the customer. Then the order is delivered through its nearest available delivery boy in the committed time. The software which is being used to manage the orders has been developed in-house and is in an evolving stage.

The firm is targeting 2 lakh deliveries by the end of this financial year. Currently, it operates in Vadodra, Indore, Surat, Lucknow, Noida, Ghaziabad & Ahmadabad and also planning to launch Bhopal this month. The start-up has tied up with 350 restaurants and claims to be adding three to four new restaurants to its network every week. It processes 250-300 deliveries during weekends.

This start-up also wants to be the best delivery service provider in the subcontinent and looking forward to explore collaboration with Chinese & European food delivery services.

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