The startup has raised $150,000 (around Rs 1 crore) from a group of undisclosed angel investors to expand its operations and venture into other cities. It competes with firms like Guestlist and Happitoo. Last month, Happitoo raised a seed round of $77,000 from a Mumbai-based unnamed angel investor to develop its product experience and for marketing.
Mumbai-based OUWT was founded by Prateek Lal, Shreyas Rajagopal and Yuvraj Bhalla. Lal was earlier working at DBS Bank. Shreyas worked with Kotak Private Equity and Bhalla was a senior project leader at Trine Games.
It allows users to discover venues such as lounges, bars, nightclubs, gastropubs and restaurants – be it food, music, timings or the occasion it is suited for. The app provides the hot spots which are trending on that particular day as well as helps users to search for hangout destinations based on the type of music played. It uses data-points as well as a social engagement model to help users find places that suit their taste using a host of filters.
Using the app, people can receive live feed and get relevant information like what is happening around depending on their budget and mood and can compare prices of alcohol available at venue. Currently, it is operational in Mumbai and lists about 300 venues. By December-end, it will start operations in Pune and Bangalore.
The startup claims that the app has crossed 3,000 downloads so far. Some of the venues listed on its platform paying for its services and the company’s also plans to have an additional revenue stream via social networking features, geofencing and advertising through tie-ups with brands.
Other players operating in the space are Instabounce and Partiko among others. These niche apps are also competing with restaurant discovery apps like Zomato and Dineout. Since their download numbers are still small in comparison to the existing firms in this space, it’s too early to evaluate which one would emerge out among the rest.