Matrix Partners backs former FoodPanda India executives' software startup
LimeTray provides restaurants with a platform for day-to-day operations including ordering, online presence management, and CRM.
MUMBAI: Venture capital firm Matrix Partners India is backing Alchemy Web, which provides software services to the retaurant industry under its brand LimeTray. The 18-month-old startup is founded by former senior executives at online food delivery venture FoodPanda.
Alchemy Web's angel investors include Groupon's Asia Pacific head Ankur Warikoo, Gaadi.com CEO Umang Kumar, Akosha CEO Ankur Singla and InMobi executive Anurakt Jain.
LimeTray provides restaurants with a platform for day-to-day operations including ordering, online presence management, and CRM. The company has already signed up over 200 restaurants, mainly in the Delhi NCR area.
Akhilesh Bali, an Indian School of Business alumni and founder CEO of Alchemy Web, was earlier cofounder and India head of FoodPanda. Before that he had set up a sweets delivery startup called MithaiMate. Alchemy Web's co-founder is Piyush Jain, who was earlier head of online marketing at FoodPanda.
“Our vision is to build a full-stack technology platform for restaurants across India. We are restaurant-first in our approach, and want to enable more and more restaurants to come online and solve critical business needs using our platform,” said Bali.
“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. We believe other SMEs are also ready to adopt technology,” said Vikram Vaidyanathan, managing director at Matrix India.
Matrix Partners, whose portfolio includes online classifieds player Quikr and travel portal Stayzilla.com, last month backed social gaming startup Red Monster which was launched by former Zynga executives.