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peAR, an in-restaurant ordering app, has raised Rs 4.2 crore in a funding round led by 1crowd and Chennai Angels, and co-led by Inflection Point Ventures (IPV).
Founded in 2019, the company uses augmented reality to enable users to visualise dishes before ordering through features like interactive 3D menus. peAR said it is building a system for 3,000,000 restaurants in India and emerging markets.
The company said it will use the money from the pre-series A funding round to expand business and build restaurant-tech solutions. “Many customers are often left surprised at the food they order because a standard menu can’t show the quantity, plating, and overall look and feel of the dish. peAR has understood this gap,” said Mitesh Shah, Co-Founder, IPV.
“3D image projection helps customers understand their order better before placing it and it also helps restaurants gather a deep understanding of their customers’ profile and their preferences. We have seen the adoption of peAR’s tech rising steadily and decided to back the company in this round also,” he said.
Working with a team of 45 members, peAR is currently processing over 35,000 orders monthly, across more than 800 restaurant partners, and is generating over Rs 17 crore annualized gross transaction volume (GTV) on their ordering platform.
“Our association with IPV has been wonderful from the beginning. They have backed us time and again & this just shows their approach to back their start-ups. Their guidance & CXO members helps us create a wide pool of people whom we can connect with and learn from,” said Dharmin Vora, founder, peAR.
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First Published: Thu, March 16 2023. 19:42 IST
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