Table reservation startup EazyDiner has raised a fresh funding of $5.85 million (Rs 41 crore) in a Series C funding round. EazyDiner is more into the restaurant table reservation space and is currently operating in only about 11 cities.
The funding has come from Denlow Investment Trust and Beenext. The latter is an early stage investor. It has also been revealed that the valuation of EazyDiner has reached Rs 280 crore or $39.99 million. A representative of the Trust is expected to join the Board of EazyDiner as part of the investment agreement.
The startup has raised a total of Rs 70 crore till date and the fresh funds will be utilized towards expansion of the operations to more cities as well as to launch a royalty programme EazyDiner Prime.
In the last round of investment, the company’s existing investors, DSG Consumer Partners and Saama Capital had picked up a tab of about $4.5 million.
It has also managed to rope in some popular personalities into its fold. These include popular cricketer Yuvraj Singh. Besides, there is a galaxy of experts on its advisory panel including names like Vikram Oberoi of the Oberoi Hotels Group, Dinesh Nair from Leela Palaces and Anjan Chatterjee, Founder & CEO of Speciality Restaurants.
Though Vir Sanghvi is mentioned as the main Founder of EazyDiner, there are many more on the list; they are Sue Reitz, Sachin Pabreja, Shruti Kaul, Ruchika Dhamija, and Manish Kutula, all involved in the hotel/restaurant business.
In terms of its operations, EazyDiner is in the process of adding Dubai to its kitty while working on adding at least 5 more major cities in India. Hyderabad could be the first on that list.
While the online food ordering and delivery is being looked at as the major thrust area, table reservations as a sub category is also gaining currency with more such startups entering the fray. They are trying to literally spice up their service with discounts in the restaurant bills and building royalty programmes.