LimeTray, a Delhi-based SaaS platform which provides management tools for restaurants, has today raised an undisclosed amount of funding in a new round from JSW Ventures.
The newly raised funding will be used by the startup to further develop the ‘restaurant OS’ of the company which was launched in the year 2015. It will also spend money on expanding its reach to overseas markets.
Commenting on the development, LimeTray co-founder and CEO Akhilesh Bali said,
As we expand on our vision to help restaurants run better & build an international footprint, we welcome JSW Ventures as partners in this journey.
Speaking about the LimeTray investment, Gaurav Sachdeva, Managing Partner at JSW Ventures added,
We are excited to partner with Akhilesh and Piyush as they roll-out LimeTray’s SaaS product internationally. The team has built a competitive advantage on product and has a unique positioning with low churn across restaurants.
LimeTray is a brainchild of ISB graduate Akhilesh Bali and Piyush Jain. It provides back-end technology assistance to restaurants, in terms of online presence management, customer relationship management, digital marketing, handling of orders and deliveries, as well as managing POS and CRM systems.
Launched in October 2015, the SaaS company’s ‘restaurant OS’ app is a one-stop solution to manage integration of business across channels and partners of restaurants.
It claims to serve more than 2,000 customers across India, Dubai, Indonesia, and Nigeria. The SaaS-based startup caters to big restaurant chains, such as Burger King, Mad Over Donuts, Taco Bell, and Krispy Kreme, in addition to local and national F&B businesses.
Earlier, in 2014, the startup had raised Series A funding from Matrix Partners and a group of angel investors, including Umang Kumar (CEO Gaadi.com), Ankur Warikoo (Head-APAC, Groupon), Ankur Singla (CEO, Akosha), Anurakt Jain, and Kunal Khattar.
JSW Ventures is the venture capital arm of JSW Group, a $11 billion conglomerate founded by Sajjan Jindal. The Mumbai-based fund backs early-stage tech startups in diverse sectors, including SaaS, consumer Internet, education, IoT, fintech, analytics, and healthcare.