EazyDiner Pvt. Ltd, a restaurant reservation startup has secured an amount of Rs 41 crore in Series B funding round. The funding round was led by Denlow Investment Trust and early-stage investment firm Beenext.
The funds raised in the latest funding round are planned to be used in the expansion of its existence as well as for strengthening its loyalty programme, EazyDiner Prime.
It was an equity financing round and following this funding, the valuation of the company reached Rs 280 crore. The latest round closed about two weeks ago and this round has come almost nine months after the company raised capital in funding led by existing backers DSG Consumer Partners and Saama Capital.
“India’s restaurant dining scene has been growing exponentially every year. EazyDiner is a play on India’s burgeoning restaurant industry and food and beverage consumption out of home,” said Kapil Chopra, founder of EazyDiner.
EazyDiner was founded by former Oberoi Group president Kapil Chopra, along with a host of experienced hospitality, food and beverages professionals. The company offers table reservations in top 2000 restaurants across 11 cities in India and is setting up operations in Dubai as well. As of now, the total amount of funding of EazyDiner totals Rs 70 crore.
Gradually, the company is also planning to launch its operations in five more cities over the next two months, starting with Hyderabad. John Price, chairman of Mars Pension Trustee, the UK-based pension fund of US-based food giant Mars, will be joining Eazy-Diner’s board.
Denlow Investment Trust is an investor in Deepak Shahdadpuri-led DSG Consumer Partners. Also, he is believed to be a limited partner, or investor, in Tiger Global Management’s fund. Beenext has been a regular investor in the Indian startup ecosystem, having earlier invested in Droom, Faasos and NoBroker, among other startups.