GrowX seed funds TableHero with $1M
TableHero Technologies Pvt Ltd, which helps restaurants and hyperlocal businesses manage their online presence, has secured $1 million (around Rs 6.82 crore) in seed funding led by Delhi-based early-stage investment firm GrowX Ventures.
The funding round also saw participation from FreeCharge founders Kunal Shah and Sandeep Tandon, IVFA partner and ex-CEO of Network 18, Haresh Chawla, Powai Lake Ventures and equity crowdfunding platform Globevestor.
The money raised will be used for developing TableHero's suite of tools, besides bolstering its engineering and product design teams, the startup said in a statement.
"Our goal is to re-imagine the small local business technology stack in a way that makes technology invisible for small local business owners. The first product in this stack will be an intelligence-driven, one-click website maker for restaurants," said Deap Ubhi, co-founder and CEO, TableHero.
Ubhi, a serial entrepreneur who founded restaurant listings and review platform Burrp, served as FreeCharge's COO when it was sold to Snapdeal last year.
TableHero will initially launch its services in the US and target restaurants. It will focus on cities such as Portland, Seattle, the Bay Area and Los Angeles.
Founded in 2014 by Deap Ubhi, Chetan Vaity, and Aman Prakash Mohla, TableHero claims to build intelligent OS that simplifies website and digital presence management; reservations, bookings and appointments; and payments, loyalty and customer management. Other co-founders, Chetan Vaity and Aman Prakash Mohla, were part of the core engineering team at FreeCharge.
Sheetal Bahl, CEO, growX ventures, said, "We're investing in TableHero, above all, for the team. Deap is a star - he created Burrp, which we loved as consumers; ran Freecharge in a tough growth period, and; is one of the best product guys ever to have worked in India. And he's put together an amazing set of people to create a technology stack which has the potential to disrupt the long-standing hegemony of the incumbents in the F&B tech space across geographies."
growX has invested in about 18 companies since its inception two-and-a-half years ago, including Claro Energy, Mad Street Den, Quandl, and Locus.sh among others.
In December 2015, growX invested in smart network layer platform i2e1.
Bite Club, an online marketplace for chefs, raised an undisclosed amount in pre-Series A funding from growX ventures.
Last year in August, Bangalore-based Qyk Inc, which runs mobile marketplace for local services Qyk, secured $1 million in pre-Series A funding led by growX ventures.