Times Internet’s restaurant booking service Dineout has acquired Pune-based SaaS company Torqus which provides restaurant management software. This is Dineout’s second acquisition this year: it had acquired food and beverages deals platform ‘Gourmet Passport’ earlier this year. Gourmet Passport offers food and beverage deals in Delhi NCR, Mumbai and Bangalore in tie-ups with 300 restaurants. (Update: Gourmet Passport has tie ups with 600 restaurants and is also present in Hyderabad.)
Torqus will remain an independent business, and its entire team will join Dineout. Torqus offers point-of-sale management, customer data management, delivery tracking, SMS marketing, and supply chain management services. It was started by Tanmay Ratnaparkhe and Suneet Kulkarni in 2013 as a PoS service. Ratnaparkhe, CEO of Torqus, said that the acquisition would help it meet client deliverables quicker.
The company now claims to have a user base of 3,500 outlets in 70 cities in India and 4 unnamed countries. Torqus’ clients includes Freshmenu, Theobroma, The Bowl Company, Curefit, Coffee by Di Bella, Swensen’s, Barshala, Baker’s Basket, Malaka Spice and InnerChef.
Dineout: a brief history
Dineout claims to have 10 million “diners” – it does not specify if these are overall registered or active users. (Update: Dineout said that “diners” means the number of people who use the platform to visit the restaurant, pay their restaurant bill or those processed through inResto.)
It also claims to have 6,500 restaurants in 9 cities: Delhi, Mumbai, Bangalore, Hyderabad, Chennai, Pune, Kolkata , Ahmedabad, and Chandigarh. This is puzzling, because on its website, the company claims to have 2 million app downloads, 5 million “diners” and 32,000 restaurants. (Update: Dineout says that it has 32,000 listed restaurants, of which 6,500 are available for table reservations. Its payment service Dineout Pay is available at 6,000 restaurants.)
In 2015, Dineout acquired Bangalore-based restaurant management company inResto. inResto’s product included a dashboard for manage table reservations, home delivery, takeaways, customer feedback, mobile payments, and loyalty programs.
- January 2014: TechCircle reported that Dineout was in talks to raise Series A funding from an institutional investor in India. It is unclear if the funding was raised or what the amount was.
- October 2012: It raised Rs 60 lakh from founders of Travel Boutique online – Ankush Nijhawan and Gaurav Bhatnagar.
Edit: We’ve updated the story with responses from Dineout.