Delhi-based start-up AdUrCup secures an undisclosed amount of seed funding led by Dineout founders – Ankit Mehrotra, Sahil, Vivek, and Nikhil. They have invested in the venture in their personal capacity. AdUrCup is a part of Accelerate Entrepreneur, a business acceleration initiative by BW (Business World) Accelerate, with very strong emphasis on the industry leader participation, mentorship and business access. Dineout Founders are also a part of the mentor panel at Accelerate, where they have mentored the start-up along with other senior professionals from advertising industry and technology major.
Commenting on the same lines, Ankit Mehrotra, Co-founder, Dineout said, “AdUrCup is an automated hyperlocal advertising tool. They are creating a first of its kind offline ad network already reaching more than 25,000 consumers per day across Delhi-NCR and more than 5,000 consumers per day on trains. They are connecting the brand to the consumer at a fraction of the cost incurred through the digital platforms, and at a, moment when the consumer has spare time. This represents an exciting opportunity for brands to interact directly with their customers.”
At Accelerate, AdUrCup benefitted tremendously and improved from being an idea stage start-up to reaching a point of sharp business longevity and reflection. Ashu Agrawal, Director, BW ACCELERATE said, “We are excited to see the progress AdUrCup has made. We believed in them and have faith, with right kind of mentors ACCELERATE has brought onboard, will serve as a strong foundation to this start-up.” The accelerator is a well-focused 3 to 12 weeks sector agnostic program designed to accelerate beyond-minimum viable product (MVP), pre-revenue and early stage companies with experienced hand holding, business intelligence and market access.
Founded in January 2015 by IITians, Kushang and Abhishek, AdUrCup is essentially a procurement application for Quick Service Restaurants (QSR). As an extension to procurement, it enables advertising on such inventory, thus converting a cost center for QSR businesses, disposables, which accounts from a 5 per cent to 12 per cent of the bill value into an asset.
For advertisers, this works as a mechanics to deliver hyperlocal personalised advertising campaigns to customers, while they eat their favourite meal, or sip a preferred beverage. On the advertising side, they have acquired some of the major brands, and are helping them design incisive solutions. At present, the start-up has acquired more than 200 QSRs, large food delivery players, and travel food services providers. They are further planning to scale this model to other cities. “We are geared to expand our operations and acquisition across two of the major cities – Mumbai, Bangalore, and Ahmedabad across the next 2 months. These are exciting markets with a very strong trend of eating out,” said Kushang and Abhishek.