BackLimeTray raises funds from Matrix Partners
CEO Akhilesh Bali says the company is developing a technology solution for restaurants across India to enable them to go online
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Mumbai: Alchemy Web Pvt Ltd., a New Delhi-based company that owns and operates the online portal LimeTray, has raised an undisclosed amount from Matrix Partners.
Akhilesh Bali, founder and chief executive officer, started the company with Piyush Jain in May 2013. Both were former employees of Foodpanda.com, an online food delivery company. Bali said in a statement on Wednesday that the company is developing a technology solution for restaurants across India to enable them to go online.
“Restaurants are adopting a range of mobile-first technology at a rapid pace to solve their business needs--be it discovery, dining experience, ordering, loyalty or restaurant management. Indian restaurateurs are excited about partnering with them to create a large company," said Vikram Vaidyanathan, managing director of Matrix India in a statement.
Alchemy Web has also received funding from founders of a few start-ups including Umang Kumar of Gaadi.com and Ankur Singla of Akosha besides Ankur Warikoo, head-APAC of Groupon India Pvt Ltd.
According to the ‘India Food Service Report 2013’ report by the National Restaurant Association of India (NRAI), the Indian food service industry is worth $41 billion and expected to grow at an annual rate of 11% to touch $68 billion by 2018.
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