US-based startup with an Indian tech team CheckMate has raised $3 million in series A round of funding from Tiger Global Management, the New-York based venture capital firm. CheckMate was founded by Vishal Agarwal.
Tiger Global has been inactive with its investment in India for quite a moment. With this latest development, the venture capital firm has marked its return in the Indian startup ecosystem funding and investment.
Founded by Vishal Agarwal, CheckMate helps restaurants deal with the challenges of handling bulk food orders. The firm helps restaurants manage multiple orders from different companies like Uber Eats, DoorDash and GrubHub.
The two-and-half-year-old startup has raised money for the first time. CheckMate provides technology solutions to connect various delivery platforms and has rolled out to more than 1,000 locations across the United States. It has also expanded its operations to Australia recently.
Tiger Global is one of the few prominent players in the India startup scene with investments in unicorns like Flipkart and Ola. Globally, the VC firm has invested in firms like Coinbase, Quora and Facebook.
According to various media reports, Tiger Global Management had around 20 per cent stake in Flipkart’s shares and reportedly made a gain of $3 billion on an investment of $1 billion. It had divested around three-fourths of its stake in Flipkart following Walmart’s investment in the e-commerce giant.