Bangalore based online community for foodies –Etable has raised angel funding from unnamed US and UK based investors. The exact amount of investment is not ascertained, however it said to be under $100, 000.
This is the second round of seed funding in the venture, earlier in January last year Etable closed first round of funding.The capital will be used for product development, marketing and acquiring talent, said Sharad Madiman, Co-Founder, Etable.
Etable acts as a platform for foodies to discover, explore, recommend restaurants based on location, taste, budget and share their experiences with friends through seamless social integration. Currently, the company has crowdsourced information about restaurants across more than 20 locations globally by users in India, US and UK.
Madiman told NBW that the company’s existing investors are associated with August Capital Partners but have made the investment in their private capacity. The new investor group includes a European investor and a US investor.
“Since we are still finalizing the legal documents, we aren’t at liberty to disclose the names of the new investors,” he said.
Etable is social network within social network like Facebook, all the listing on the platform facilitated by users only. For restaurants, Etable works as a data analytics platform to get insights of preferences, usage patterns and push information to its target customers.
The company plans to offer API integration to table booking platforms (like FoodPanda.in), ecommerce stores selling food related products such as kitchen appliances and accessories.
Started by Rohit Iyer and Sharad Madiman Etable has also released an app for Android (link) and iphone (link) to target youngster under age bracket (16-35).