19 May 2016, BENGALURU: Bengaluru based mobile app that provides services of queue-less ordering at food courts in malls and corporate office complexes, SmartQ raised pre-series funding from its investor, YourNest Angel Fund for undisclosed value. The funding rounds also saw participation from former CEO of BabyOye.com, Vijay Jumani.
The company will utilize this capital to develop and establish technology for verticals like amusement parks and retail, targeting a market size of more than $100 billion and expand their business to other locations like Pune and Mumbai. The company also aims to achieve a target of acquiring more than a million users in next 18 months.
Headquartered in Bangalore, SmartQ, founded in 2015 by Krishna Wage and Abhishek Ashok and is operated by Bottle Lab Technologies PVT LTD. The company aims to solve the problems of delay over food ordering in food courts which is crowded by thousands of consumers every day. The mobile based app enables users to order food from a service outlet in a food court and get an alert when the food is ready to be picked up, thus eliminating the queues at both the PoS and pickup counters. The start-up also partnered with mobile wallets like PayUMoney and PayTm to enable smooth cashless transactions. The company charges a commission for every order serviced by its platform.