In an effort to scale up its expansion plans, SmartQ, a Bengaluru-based leading online food tech platform has announced that the company has acquired the Digital Cafeteria business of Goodbox which provides mini apps to businesses.
The acquisition is a part of the company’s long term strategy to aggressively increase its footprint across India. Post the acquisition, Goodbox will continue its current focus on the hyper-local delivery business for groceries, pharmacies, etc.
Speaking about the acquisition, Krishna Wage, Co-founder and CEO, SmartQ, said, “This is another important landmark for SmartQ as it reinstates our position as a leader Digital Cafeteria Business. Goodbox already has an existing customer base of 10+ MNCs across the country. Post the acquisition, SmartQ will further strengthen its digital cafeteria business by adding Goodbox’s customer base to the portfolio.”
He further said, “Next few years are very important for us as an organization. To take the organization to the next level of strategic growth, we are further scaling up our product portfolio, service offerings and business strategy”.
SmartQ has clocked more than 1 crore transactions in last one year. Experiencing a 50 percent month-on-month growth with over 1,20,000+ daily transactions, SmartQ has grown to 100+ locations in India and globally.
Founded by Krishna Wage and Abhishek Ashok in 2014, the company has immensely grown its product portfolio, customer base, geographical presence and sales turnover over the years. Charting a great success story for itself, SmartQ has expanded its operations to international markets such as Singapore and New Zealand.
SmartQ has raised close to Rs 9-10 crore funds in total. In 2016, the startup raised Rs 3.1 crore funding from YourNest Angel Fund. In 2018, the company again raised close to a Rs 4.75 crore from an investor group led by some Dubai-based investors, while existing investor YourNest also participated in the round.
Addressing various challenges faced by employees and caterers, SmartQ enhances cafeteria and food-court experience by eliminating queues, minimizing wait time, increasing collaborative work time. By enabling corporate employees to place their orders through multiple means, SmartQ implements its innovative and cutting-edge product digital cafeteria Solutions.
SmartQ is the exclusive technology partner with some of the largest food service providers in the world. SmartQ plans to expand their horizons to multiple other sectors where there are queue issues and ultimately remove queue from the face of the earth.
