Online food-tech startup SmartQ on Wednesday said it has raised USD 1 million from a consortium of Dubai based investors. Existing investor YourNest has also participated in this round.
SmartQ intends to use the raised funds for expanding the business within India and across international geographies along with further strengthening the team.
Founded by Krishna Wage and Abhishek Ashok in 2014, the company claims to be clocking about 100,000 transactions on a daily basis.
SmartQ has captured the market of food courts and cafeterias. The digital cafeteria platform of SmartQ includes mobile application, automated billing kiosks, centralized billing system, NFC Prepaid cards, POS software etc. Addressing the challenges faced by employees and caterers, SmartQ enhances cafeteria and food-court experience by eliminating queues, minimizing wait time etc.
“The funding has enabled all of us at SmartQ to take the organisation to the next level of strategic growth and further scaling up on technology, talent and brand building in full swing. With our partners’ firm belief in our business strategy and our unique solution-providing capabilities, we look forward to achieve our expansion goals and ultimately fulfil the vision of SmartQ,” said Krishna Wage, co-founder and CEO, SmartQ.
“SmartQ has captured an excellent market share by providing greater customization, choices in product offerings and innovative technology solutions to its customers,” said Sunil K Goyal, managing director and fund manager, Yournest.