Home / Business and Economy / Eat App Secures $10M, Eyes India's Vast Restaurant Market
Eat App Secures $10M, Eyes India's Vast Restaurant Market
20 Jan
Summary
- Eat App raised $10 million in Series B extension funding.
- Acquired rival ReserveGo to boost its India presence.
- Partnered with Swiggy to offer aggregated restaurant data.
Dubai-based Eat App has significantly bolstered its India expansion plans by raising $10 million in a Series B extension funding round, led by PSG Equity. This latest investment brings the company's total funding to over $23 million. Eat App has identified India as a key market, scaling to over 2,000 restaurants in the country within the last 12 months.
To accelerate its growth, Eat App acquired ReserveGo, a reservation platform founded by Vijayan Parthasarathy, who previously founded Inrestro. This acquisition enhances Eat App's capabilities in the Indian market. Additionally, Eat App has partnered with Swiggy to market its restaurant management solutions, branded as GroMax for India, to a wider audience.
The collaboration with Swiggy aims to provide restaurants with tools for better reservation management, promotion on Meta and Swiggy, and data aggregation. This strategic move is designed to capitalize on India's burgeoning food service industry, which is projected to reach over $85 billion by 2028. Eat App's CEO, Nezar Kadhem, sees strong parallels between India's current restaurant landscape and Dubai's growth trajectory from nearly a decade ago.
