Eatsy helps users to book take-away or dine-in meals; it has a feature that enables users’ friends to edit or add their meals into the order
Singapore-based foodtech startup Eatsy Technologies today announced that it has raised S$550,000 (US$404,000) in seed funding round led by Quest Ventures, a venture capital firm with a focus on China and Southeast Asia.
Investors such as The Lo & Behold Group founder Wee Teng Wen and RedMart co-founders Roger Egan III, Vikram Rupani, and Rajesh Lingappa also participated in the funding round.
Eatsy plans to use the new funding to further develop existing in-app functions and partner new merchants, in a bid to automate ordering and payment with their partner merchants.
Founded in September 2017 by CEO Shaun Heng, who had previously worked in Corporate Development at RedMart, Eatsy provides a mobile app that enables users to book meals for dine-in or take-away.
Using in-app menus, users can order food before they arrive at the location for pick-up, with the restaurant preparing the meals while they are on the way. The process aims to enable users to save time and skip long queue lines; it also enables users to pay for the meals beforehand.
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The app also includes a “collaborative ordering” feature that allows users’ friends or colleagues to add or edit existing orders, making group order process simpler.
The features aim to give competitive and technological edge for restaurants and cafes in Singapore in order to help them drive up profitability and connect with customers in a more personalised way.
“Imagine it is lunch time and you are helping to order take-away for your colleagues. With the app, you don’t have to jot down everyone’s orders and queue anymore. Just add your friends in the app – they “piggyback” onto your existing order and send it through. The restaurant will start preparing your orders, so just head downstairs for collection once it’s ready. This ‘collaborative ordering’ saves a lot of time for customers and drives incremental orders for merchants,” Heng explained.
“Our mission is to make mobile ordering and payment the new way of life when dining out,” he stressed.
Eatsy said it already has over 80 merchants on-board, including brands such as Tanuki Raw and Park Bench Deli. It also claimed gross transaction value growth of 80 per cent month-on-month.
The startup is backed by Quest Ventures and Enterprise Singapore under the Startup SG Founder grant, where they previously received S$30,000 (US$22,000) in funding.
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Image Credit: Eatsy
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