As Burrp, the food and restaurant recommendation platform, is planning to expand its services like events and offers a more personalised search experience to users, it is eyeing a revenue of Rs 150 crore by March 2019.
Burrp, which was acquired by Infomedia – a part of Network18 – in 2009, is also aiming to facilitate transactions worth Rs 1,000 crore through its platform in the same period.
The company, which earlier had listings from 42 cities, has now reduced it to 15. It has about 6,00,000 mobile installs and one million active users.
In 2014 and 2015, around 55 food technology startups raised $373 million (Rs 2,450 crore) from investors like Rocket Internet and Sequoia Capital, according to data compiled by Tracxn, a Bengaluru-based analyst firm that tracks startups.
According to a report in PTI: However, many analysts believe funding may be drying up in the food-tech sector as many startups burned up investor cash in order to offer economically unviable discounts to get more customers on board.