Funding Breakthrough for Restaurant Tech Innovator
In a significant milestone for India’s restaurant tech sector, Ahmedabad-based Petpooja has successfully closed its Series C funding round, raising Rs 137 crore (approximately $15.5 million). This infusion of capital, arriving after a four-year hiatus, underscores the company’s resilient growth trajectory and investor confidence in its scalable SaaS model.
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Key Investors and Round Breakdown
The round was spearheaded by Dharana Capital, which contributed Rs 82 crore, with additional backing from prominent figures including Ashish Gupta, co-founder of Helion Ventures, who invested Rs 1 crore. Participation also came from Abhiraj Singh Bhal and Varun Khaitan, co-founders of Urban Company. Regulatory filings with the Registrar of Companies confirm these allocations, though details on the remaining funds are pending.
Valuation Leap and Strategic Implications
Entrackr’s analysis pegs Petpooja’s valuation at around Rs 910 crore ($103 million) post-funding, representing a remarkable 3.5x increase from its prior round. This valuation premium highlights the platform’s expanding market dominance and potential for further innovation in the competitive food service tech space. Once the full round is disbursed, the post-money valuation may adjust accordingly.
Evolution from Startup to Market Leader
Launched in 2011 initially as a B2B food delivery service, Petpooja pivoted to become a comprehensive SaaS provider offering cloud-based POS and management tools tailored for small and medium-sized food businesses. Today, it boasts over 100,000 clients spanning India, the UAE, and South Africa. Notably, the company handles about 25% of online orders processed through major platforms like Zomato and Swiggy, cementing its role as a pivotal player in streamlining restaurant operations.
Cumulative Funding and Ownership Shifts
With this latest raise, Petpooja’s total funding stands at approximately Rs 185 crore across multiple rounds. Its previous Series B in 2021, led by Aroa Ventures, brought in $4.5 million. Following the current infusion, Dharana Capital is set to hold an 18.62% stake on a fully diluted basis, positioning it as a key strategic partner.
Strong Financial Momentum
Petpooja’s fiscal year 2024 performance reflects robust expansion, with revenue climbing 43% to Rs 76 crore. Losses were contained at Rs 13.4 crore, a positive sign of improving operational efficiency. FY25 financials are awaited, but the upward trend suggests sustained profitability potential amid rising demand for digital restaurant solutions.
Forward-Looking Investments
The newly secured funds will fuel product enhancements, ramp up AI-powered automation features, and strengthen customer support infrastructure. These initiatives are poised to drive greater efficiency for clients, helping them navigate the evolving challenges of the food service industry with smarter, more intuitive tools.
This funding not only validates Petpooja’s vision but also signals broader optimism in India’s SaaS ecosystem, where tech-driven efficiencies are transforming traditional businesses into agile enterprises.
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