PeAR, a restaurant ordering service based on augmented reality, has secured Rs 4.2 crore in its Pre-series A round, which was co-led by Inflection Point Ventures and 1crowd and was led by Chennai Angels (IPV).
According to a statement from the company, the money will be used to expand the firm’s current array of products across countries, solve new restaurant concerns, and develop a suite of integrated restaurant-tech solutions.
PeAR, a platform created in 2019 by Dharmin Vora, Dhruvesh Mehta, and Parth Vora, enables consumers to see a meal before placing an order, ensuring that diners enjoy their dining experience. To resolve this, it makes advantage of augmented reality.
They have been able to turn ordinary paper menus into engaging 3D menus thanks to their exclusive technology. When orders are also done online, this aids eateries in upselling.
The business asserts that over 35k orders per month were handled through 800 restaurant partners, generating Rs 17 crore in GTV on a yearly basis. The 45-person team is creating the top AR-tech solutions for Indian restaurants to boost sales and improve operations.
With over 7400 CXOs, HNIs, and professionals participating, Inflection Point Ventures (IPV) is a platform for angel investing in businesses. A $50 million CAT 2 AIF Physis Capital has been launched by IPV to invest in pre-Series A through Series B growth-stage startups.