New Delhi, Sept. 29 -- Petpooja, a homegrown cloud-based SaaS platform for restaurants, has raised Rs 137 crore (around $15.4 million) in a funding round led by growth-stage investment firm Dharana Capital.
The funding round, a mix of primary and secondary capital, also saw participation from Helion Ventures co-founder Ashish Gupta, Urban Company co-founders Abhiraj Singh Bhal, Varun Khaitan, and Raghav Chandra, and Urban Company chief business officer Mukund Kulashekaran.
Petpooja, operated by Prayosha Food Services Pvt. Ltd, said it plans to use the fresh capital to enhance its product portfolio, accelerate AI-driven automation, and bolster customer support. It didn't disclose which investors made a full or partial exit in the secondary round. Its past investors include Aroa Innovation Partners, GVFL, and Udaan.
"This round will help us accelerate product innovation and continue building solutions that help restaurants simplify their operations," said Parthiv Patel, co-founder and chief executive officer of Petpooja.
Founded in 2011 by Parthiv Patel and Apurv Patel, Petpooja provides its SaaS services to more than 100,000 restaurants in India, the Middle East, the US, and Africa, across over 140 cities. It claims that it is the market leader among Indian cloud-based restaurant point-of-sale players and that it processes over 7 million orders daily. It also provides allied products like payroll and invoice automation for its customers. It employs over 1,600 people.
The company had last raised around Rs 34 crore in a funding round from Aroa Ventures, GVFL, Udaan, and Dr Mayur Desai, among others, in November 2021.
"As India's food service ecosystem undergoes rapid digitization, Petpooja has emerged as the core technology backbone for restaurants," said Vamsi Duvvuri, founder and managing partner, Dharana Capital.
Dharana Capital is an India-focused growth-stage technology and consumer investment firm. The firm, which is backed by top US university endowments and other non-profit institutions, has invested in several Indian companies, including Urban Company, Zopper, Lentra, NoBroker, Itilite, and Vayudh.
Published by HT Digital Content Services with permission from VC Circle.