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TinyOwl raises Rs 100 cr in Series B funding led by Sequoia Capital and we do some math

Online food delivery service TinyOwl has raised Rs 100 crore in series B funding from Matrix Partners, Sequoia Capital and Nexus Venture Partners, reports TechCruch. The Mumbai-based  startup raised $3 million in a series A round of funding from Nexus Venture Partners and Sequoia Capital earlier in last year. Currently active only in Mumbai, the company has an aggressive expansion plan and wants to roll out to 50 cities in India before the end of the year. TinyOwl’s service allows customers to order take-out via its iOS and Android app. It also has two products; TinyOwl for food from nearby restaurants and TinyOwl HomeMade for healthy food from local chefs. Users can either make payments through their credit card or opt for cash-on-delivery. TinyOwl also says that it take about 3,000-5,000 orders per day and covers about 4,500 restaurants. Here's our math TinyOwl has a…

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