Company: TinyOwl Technology Pvt Ltd
Area of Operation: Food-tech
Founded: March 2014
Founders: Harshvardhan Mandad, Saurabh Goyal, Tanuj Khandelwal, Gaurav Choudhary, Shikhar Paliwal
Funding: Raised Rs 6 crore in angel round in August 2014, $3 million in Series A in December 2014, $15 million in Series B round in February 2015, $7.5 million in bridge round in October 2015
Investors: Burrp founder Deap Ubhi, Sandeep Tandon, Sequoia Capital, Nexus Venture Partners, Matrix Partners
Business Model: TinyOwl app helped customers place orders from restaurants across 17 cities.
The Collapse: TinyOwl had begun its restructuring activity in September 2015 by cutting over 100 jobs across its Mumbai and Pune offices. In November last year, TinyOwl was in the news for laying off 112 employees in its Chennai, Pune, Hyderabad and Delhi offices. It has now shut down its operations in all cities except Mumbai. However, it plans to come back as a full-service delivery app. Earlier this month, it was reported that TinyOwl was likely to merge with hyperlocal on-demand logistics startup Roadrunnr in an all-stock deal. The merger will lead to establishment of a new entity Runnr, which will compete with Swiggy and Zomato Order. TinyOwl plans to relaunch operations in Bangalore and Mumbai in two to three months under the new brand name, followed by Delhi and Pune by the end of the year.