EazyDiner, a restaurant table reservation startup based in India, has raised INR 40 crore ($4.8 million) in a strategic funding round from DMI Finance’s Sparkle Fund. The funding will be used to accelerate growth plans and expand the company’s presence to new cities across the country, as well as to scale its operations in the Middle East and add new features to make the platform more appealing for customers and restaurant partners. EazyDiner, founded in 2015, operates across three major verticals, including restaurant table reservation business, food discovery platform, and payment solutions business.
It has more than 12,000 restaurants on its platform across India and in Dubai and claims to have grown 5x YoY in terms of users and 18x YoY in payments volume on its app in 2022. EazyDiner competes directly with foodtech giants Zomato and Swiggy. Foodtech players such as Swiggy and Zomato are making efforts to digitize the entire customer lifecycle from acquisition to payment in the dine-out segment.
Swiggy has launched its dine-out programme, and Zomato reintroduced Zomato Gold to attract more customers dining out. Zomato also unveiled Zomato Pay to generate more revenue and attract more diners to its platform with offers and discounts. Swiggy, on the other hand, recently integrated its dining-out service Dineout with its food delivery app, expanding it to all users. These efforts show how foodtech companies are trying to enhance the customer experience by providing a seamless dining-out experience.