Bengaluru-based online food tech platform SmartQ has raised close to $1 Mn in funding from a consortium of Dubai based investors. The existing investor, YourNest has also participated in this round.
Commenting on this development, Anvita Varshney, Ex Managing Director of Lazada group, said, “Within a short span of time, SmartQ has been able to build on a huge customer base and has been serving some of the best and large-scale businesses.”
Founded by Krishna Wage and Abhishek Ashok in 2014, SmartQ enables a digital cafeteria experience across different sectors including corporates, malls, multiplexes, stadiums, hospitals, and colleges. The digital cafeteria platform of SmartQ includes mobile application, automated billing kiosks, centralized billing system, NFC prepaid cards, POS software etc.
Further, as part of the funding deal, Anvita Varshney, Ex Managing Director of Lazada group, has joined as the Board of Advisors for SmartQ. Your nest has fully committed the Fund I, which was of $13.84 Mn (INR 90 Cr), to 16 companies including SmartQ. The fund invest is tech-enabled businesses and seeks out disruptive ideas in cutting-edge technologies – IoT, Robotics, Enterprise SaaS using AI/ML, Block Chain etc.
Digital cafeterias are the new trend that food tech startups are trying to set in. Similar to SmartQ, there is HungerBox, which is currently serving 110+ digital cafeterias and have also recently raised $2.5 Mn in Series A funding round. It also offers 50 different payment methods to its clients. Another company is Zeta, which has introduced the host of digital ordering and payment facilities to digitize the existing cafeterias in the corporate organizations.
The time is ripe and essentially the latest funding round will help the food-tech startup SmartQ in scaling ahead and add on more digital cafeterias to its list.