Explorex Technologies Analysis: $5M Raised
What is Explorex Technologies?
Explorex builds an AI operating system for dining out, branded around restaurant operations rather than generic hospitality software. Its site says the platform connects restaurants, diners, menus, payments, and real-world behavior into one system. The company states it is trusted by 1,000+ outlets processing ₹5,000 Cr+.
Location
Bengaluru, India
Employees
11-50
Founded
2020
Revenue
$9.4M
Business Model
Monthly or annual fees from restaurants for integrated management solutions.
Product Features & Capabilities
- Front of the House, Digital Menu, Automated Ordering, Integrated POS/mPOS, Integrated Payments, Inventory Management, Detailed Analytics & Reporting, Customer Re-engagement Tool, Third Party Delivery Integration
Pricing
- Initial setup fee for restaurants.
- Per-transaction Merchant Discount Rate (MDR) charge.
- Pricing model prioritizes restaurant perspective based on table turnover and transaction volumes.
How much Explorex Technologies raised
1 - $5 million
October 11, 2022Lead Investor: Taher Savliwala, Kevin Lin (Twitch co-founder), among others.
Who are the founders of Explorex Technologies
Market Focus
Explorex Technologies primarily focuses on the restaurant industry, providing a full-stack operating system to manage restaurant operations efficiently, including aspects like ordering and payment processing.
Investors
- Y Combinator
- WorldQuant Ventures
- z21 Ventures
- Pioneer Fund
- Taher Savliwala (Super Angel)
- 34 other investors
Competitors Overview
Explorex Technologies faces competition from several notable companies in the restaurant management software market. The main competitors include:
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Toast: An all-in-one restaurant POS system that integrates various functionalities such as loyalty programs and online ordering. Toast has a strong market presence and significant funding, which allows it to offer extensive features and resources.
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SpotOn: Provides cloud-based POS software solutions and has a long-standing presence in the market. SpotOn's substantial funding enables it to deliver robust solutions and customer support.
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Restroworks Restaurant POS: A customizable cloud-based system that enhances sales and customer loyalty through features like centralized menu management.
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Square Point of Sale: Known for its versatility, Square allows businesses to accept payments anywhere, making it suitable for various restaurant sizes.
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Tillster: Specializes in SaaS-based online ordering and marketing solutions, focusing on enhancing customer engagement.
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Olo: Offers a digital ordering and delivery platform for restaurant brands, leveraging its public status for innovation and expansion.
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UrbanPiper: Focuses on food delivery channel management software, catering to the growing demand for delivery services in the restaurant industry.
Explorex ranks 71st among 1700 active competitors, indicating a solid foundation but significant competition from these established players who have larger funding and market presence.
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