Gurgaon-based F&B customer engagement startup Twyst.in, which works with 300+ F&B brands across Delhi NCR, has raised an undisclosed amount of funding. The investors include Rohit Bhatia, ex-CEO, Dhingana; Sunil Nikhar, CEO, Digilant Solutions; Vaibhav Domkundwar, Founder & CEO, Better; Siddharth Nautiyal (formerly with Bessemer Ventures), and others. The new funding will be used to consolidate its position and expand the offering beyond a customer engagement platform.
Started by Abhimanyu Lal (ex eBay marketing head), Rahul Chakraborti (ex Head Business Operations India & SEA, Yahoo) and Arun Rajappa ( Principal Program Manager, Microsoft) in 2013, the company’s platform allows retailers to create marketing programs to improve customer loyalty. It gives personalized and relevant recommendations about outlets and rewards to users at frequently visited F&B outlets.
It allows people to check in to the affiliated restaurants and earn reward points. It competes with players like Crownit, Zomato, CouponDunia, Groupon, and Mydala among others. Rewarding and cash back is considered as one of the biggest opportunity following the growing trend of hyperlocal commerce in India. The current market opportunity of enabling technology to hyperlocal commerce is about $16 billion, from $2.5 billion in 2009, and is expected to grow to $80 billion by 2020.