Ressy

Ressy Technology Pvt Ltd, established in 2015, operated a mobile-based platform designed to address the persistent issue of underutilized capacity in the restaurant industry. The company was founded by Koustubh Bharat Rajepandhare and Sagar Shrishail Patil, who identified a market opportunity to help restaurateurs fill vacant tables, particularly during off-peak hours. Koustubh Rajepandhare brought experience from the F&B and e-commerce sectors, having worked with companies like Groupon and TinyOwl, which provided him with insights into the operational challenges restaurants face. Sagar Patil, handling the technology, had prior entrepreneurial experience, having founded a media agency, Masterworks, which was later acquired.

The venture was launched to serve as a real-time bridge between restaurants and potential diners in their immediate vicinity. For its client base of restaurant owners in Pune, Ressy provided a merchant-facing application that allowed them to manage and broadcast time-bound discounts and offers dynamically. This empowered merchants to control the discount levels, up to 50%, and the number of available coupons, helping them manage capacity and inventory more effectively. For consumers, the app served as a discovery tool for location-based deals, showing available discounts for dine-in, takeaway, or delivery. The business model was based on charging merchants a commission of 10-15% on the final bill for each transaction facilitated through the app.

Shortly after its founding, Ressy secured $400,000 in a seed funding round in August 2015, facilitated by the crowdfunding platform LetsVenture. The round was led by notable investors, including Vikram Chachra of Eight Capital, Mohandas Pai, and Akshay Garg, among others. This capital was intended for product development, team expansion, and increasing their network of partner restaurants in Pune. The company showed initial traction with a high percentage of repeat customers and a growing number of partner establishments. In April 2017, Ressy was acquired by Eatigo, a larger restaurant reservation platform, marking the conclusion of its journey as an independent startup.

Keywords: Ressy, restaurant discounts, dynamic pricing, food tech, Pune, yield management, Koustubh Rajepandhare, Sagar Patil, mobile deals, restaurant capacity, real-time offers, Eatigo acquisition, food and beverage, last-minute deals, customer acquisition, merchant platform, Eight Capital, LetsVenture, restaurant technology, location-based services