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Eat App wants a bite of India’s restaurant reservation business with anacquisition and Swiggy partnership
Dubai's Eat App is targeting India's restaurant reservation market through a $10 million Series B funding, an acquisition of ReserveGo, and a partnership with Swiggy. The Indian food service industry is booming, expected to exceed $85 billion by 2028, prompting Eat App to expand rapidly in India, where it has onboarded over 2,000 restaurants and serves 8 million covers.
Key points
- Eat App raised $10 million in a Series B extension led by PSG Equity, totaling over $23 million in funding.
- Eat App acquired ReserveGo, which handled 5 million reservations per month, enhancing its market presence.
- The partnership with Swiggy aims to upsell Eat App's solutions to restaurants, contributing to over 2,000 partnerships in India.
- India's food service market is projected to reach over $85 billion by 2028, with dine-in services representing most of the revenue.
- Swiggy's Dineout platform served over 23.8 million covers, highlighting competitive pressures for Eat App.
Why it matters
- The rise of technology in the restaurant industry parallels trends observed in markets like Dubai, where Eat App originated.
- Global interest in restaurant tech solutions reflects a growing trend in AI-driven tools for improving customer experiences.
- In recent years, restaurant management software has gained prominence as businesses look to efficiently manage reservations and customer relationships.
Eat App's strategic moves in India, backed by significant funding and key partnerships, position it well in a burgeoning market, though success hinges on overcoming competition and demonstrating tangible value to restaurants.